Shiba Inu Surged Almost 17% Over Past Week, Outperforming Dogecoin

The price of Dogecoin DOGE/USD-inspired cryptocurrency Shiba Inu SHIB/USD has surged 16.6% over the past week, outperforming the rival meme cryptocurrency’s gain of almost 4.4%.

What Happened: Shiba Inu traded 3.7% higher over the past 24 hours at $0.000008372 early Monday morning, while Dogecoin is down 1.5% during the 24-hour period to $0.2153.

Shiba Inu and Dogecoin are currently trending in the sixth and seventh positions among the most-mentioned coins on Twitter, as per CoinTrendz data.

See Also: How To Buy Shiba Inu (SHIB)

Why It Matters: The gains by Shiba Inu come after the International Business Times reported that an unidentified crypto whale who bought an astounding six trillion Shib tokens on Friday again purchased a total of 276 billion Shiba Inu coins in three separate transactions on Saturday.

The large purchase has boosted the value of the cryptocurrency, which calls itself the “Dogecoin killer.”

The purchases come amid speculation that Robinhood Markets Inc. HOOD could list Shiba Inu soon after it releases its long-awaited crypto wallet feature.

Cryptocurrency exchange Coinbase Global Inc. COIN last month listed the token on its trading platform.

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