The Shiba Inu cryptocurrency is now the 20th largest in the world by market value and has more than tripled in the past week, fueled in part by Elon Musk’s latest tweet about his own cub.
Meanwhile, animal spirits are back on the move for Bitcoin after the token rose more than 30 percent in the past seven days to its highest level since May.
The rally contrasts with the more pedestrian performance of traditional assets in recent times. Bitcoin rose 5 percent to $54,079 at 10:13 a.m. in New York, about $ 9,331 off its all-time high from mid-April.
Bitcoin, the world’s biggest and best-known cryptocurrency, is up 98.9% from the year’s low of $27,734 on Jan 4. Ether, the coin linked to the Ethereum blockchain network, rose 2.15% to $3,591.72 on Wednesday, adding $75.63 to its previous close.
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