The huge demand for the Shiba Inu cryptocurrency, which bears the symbol of a dog, has made it one of the top ten digital assets by market capitalization, reaching $40 billion, after The Dodge Queen has passed.
According to Arabiya Net, the Shiba Inu rose by an additional 10% at midday on Monday, but it declined today by 2.47%, while its value doubled last week.
And it's not just last week's rally that the Shiba Inu climbed to ninth place, outpacing Dodge Coin, where the cryptocurrency is up nearly 900% in the last month.
Like most cryptocurrencies, the Shiba Inu is not commonly used in commercial transactions, and most experts and investors consider it a high-risk speculative bet due to the broader volatility of the cryptocurrency market. Experts also warn that investors need to be careful about investing money in something of unknown leadership that appears to have no significant functional use.
Investors may think this story sounds familiar, as Bitcoin has doubled in value twice this year - with a rapid decline in between - and is now selling at more than $60,000 per unit.
On the other hand, the world's richest man, Elon Musk, tweeted an old Chinese poem about two brothers fighting out of jealousy, while some Twitter users said they could To be an indirect reference to the conflict between the two cryptocurrencies Shiba Inu and Dodge Coin.
The allegorical poem is known as the Seven Steps Quartet, and the allegorical poem is often attributed to Cao Chi, a member of the Chinese royal family who lived between 192 and 232 CE.
Cao's older brother, newly crowned and suspicious that his more popular brother was trying to usurp his rule, had Cao compose a poem proclaiming his innocence.
The translated poem says:
Some beans are burned to cook the beans
The beans in the pot scream
We are born from the same root
Why should we burn each other like this?
Some online commentators have pointed to the rivalry between Dodge Coin and Sheba Inu, in their interpretation of the tweet from Musk, who often defends Dodge Coin.
