Dogecoin And Shiba Inu Surge: Meme Coins Are Rising In Value

The second largest market capitalization cryptocurrency for large dogs, Shiba Inu (SHIB), had a glorious development day on Saturday, as the Ethereum-based token soared to its highest price in eight months—while the leading currency, Dogecoin (DOGE), had a more modest increase. Shiba Inu has witnessed a surge on Saturday night, rising to the price of $0.00002969 before cooling off slightly to the current price of $0.00002897. Even at the lower price, SHIB still rose over 12% in the day—and the last time it reached its peak on Saturday was on April 1, eight months ago. According to data from CoinGecko, this is the strongest price increase in the top 50 cryptocurrencies by market capitalization, followed by Filecoin with a 10% increase in the day. The meme-themed dog coins aren’t really hot today, with Bonk (BONK) and Dogwifhat (WIF) only increasing by about 1% each in the past 24 hours. But Floki (FLOKI) based on Ethereum has gained nearly 6% today. Meanwhile, Dogecoin is approaching its highest price in a week at over $0.43, up 3% on the day. Last Saturday, DOGE reached its highest price in three years at $0.475; but even at the current price, DOGE has risen 164% in the past month. Another prominent meme coin, Brett (BRETT) - the top meme coin minted on the Layer 2 Ethereum network Base - has surged to an all-time high of $0.2032 on Saturday and is currently up 17% in the past 24 hours.