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Seeking Alpha 2021-10-28 12:42:14

Dogecoin, Shiba Inu tokens soar as Bitcoin surpasses $60K again

Meme-like alt coin Shiba Inu (SHIB-USD) reached another record high on Wednesday evening, perhaps partially due to rumors about the crypto getting listed on Robinhood's trading app. Since then, Shiba Inu (SHIB-USD) overtakes Dogecoin (DOGE-USD) as the eighth largest token by market cap, bringing Doge's rank down to 10th, behind Polkadot. Shiba (SHIB-USD) surges ~175% just in the past seven days, with a market cap of $43.1B, up from roughly $11B last week, according to data from CoinMarketCap. Meanwhile, Dogecoin (DOGE-USD) also gains about 20% in the past week. However, the three largest cryptos, Bitcoin (BTC-USD), Ethereum (ETH-USD) and Binance Coin (BNB-USD), are trading in net negative territory in the past week. But they are climbing on Thursday even after the Securities and Exchange Commission is said to not allow a leveraged Bitcoin ETF go live. Keep in mind that Shiba Inu (SHIB-USD) and Dogecoin (DOGE-USD) both represent a meme

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