Shiba Inu — the meme-based cryptocurrency — has jumped so high in value that it appears to be worth more than Nissan, the car-making company.
- Shiba Inu₹0.002564-9.88%
Is Shiab InuCoin worth more than Nissan?
Shiba Inu Coin recently soared in value to be worth $0.00007 per (Shib), which makes its market value close to $32 billion, according to CoinGeko. Meanwhile, Nissan is only worth about $20 billion. So it’s a slim margin, but a margin nonetheless.
Like dogecoin, shiba inu coin features the Shiba Inu dog as its mascot. Its meteoric rise has made some investors millionaires overnight. Shiba inu coin also surged earlier this week, but lost some recent gains after Tesla CEO Elon Musk — who is a big fan of dogecoin — tweeted that he does not own any shiba inu coin. In a follow up tweet, he added that he has bought “Bitcoin, Ethereum & Doge. That’s it.” Musk’s tweets have frequently moved crypto markets.
Other popular virtual currencies have also seen explosive growth. Bitcoin, the world’s most valuable cryptocurrency, hit an all-time high of nearly $67,000 per coin last week, topping the previous record set in April.
Bitcoin prices have surged 50% this month, from just under $44,000 at the end of September. Bitcoin is currently trading at almost $60,000.