This Meme Coin Seeking To Merge Dogecoin And Shiba Inu Communities Is Up Over 60% Today

Dogecoin DOGE/USD and Shiba Inu SHIB/USD rose on Monday evening along with other major cryptocurrencies.

Some of the knockoff coins are also seeing gains, with ShibaDoge SHIBDOGE/USD up 63% during the past 24 hours to $0.000000000000000673.

What Happened: ShibaDoge has surged more than 57% against Bitcoin and also gained over 52% against Ethereum.

For comparison, Dogecoin is up 2.4% during the past 24 hours, trading at $0.1414 at press time. Shiba Inu, the self-described “Dogecoin killer,” has risen 4.2% over the 24-hour period to $0.00002138.

See Also: How To Buy Dogecoin (DOGE)

Why It Matters: Shiba Doge says it plans to ultimately merge the communities behind Shiba Inu and Dogecoin. The coin’s short-term goal is to merge 1% of that audience, creating value for over 50,000 holders and over $400 million in value.

The coin announced on Twitter that it has reached a market capitalization of $100 million in its first month.

$100,000,000 market cap in our first month!
Next: To the moon!

Missed #Shib ? Missed #Doge ? Don't miss #ShibDoge #WAGMI pic.twitter.com/R8lm7EMzx6

— Shiba Doge (@RealShibaDoge) January 31, 2022

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Photo: Jose Rodrigo Safdiye/Benzinga