Shiba Inu , a meme inspired cryptocurrency and a Dogecoin spinoff, has hit an all time high on Wednesday, hitting a record high above $0.00008456 price, according to CoinMarket cap.
With a market capitalisation of more than $38 billion, Shiba Inu is now the 11th largest cryptocurrency.
The rise is speculated to be fuelled after tech billionaire Elon Musk, tweeted a photograph of the SHIB coin going to the Moon on October 18.
This market movement has also caused WazirX to record an all-time-high 24-hour trading volume of over $560 Million,” said Nischal Shetty, founder, and CEO of WazirX.