The price of Shiba Inu (SHIB) jumps by over 26%

Over the last 24 hours, Shiba Inu has led the markets. SHIB's value skyrocketed by more than 26%.

Shiba Inu has more than recovered from its multi-month low of $0.00001704 by more than 70%.

According to CoinMarketCap, the price of the Shiba Inu cryptocurrency has increased by over 26% in the last 24 hours.

The trade volume of the memecoin has increased by 244%, reaching $2.7 billion. It is the world's 6th most popular cryptocurrency behind only Tether, Bitcoin, Ethereum, Bitcoin Cash and Binance USD.

The digital asset is currently ranked 3rd on Coinbase, the largest cryptocurrency exchange in the United States.

Shiba Inu has jumped ahead of Polygon to 14th rank by market value as a result of the latest price rise (MATIC).

Despite its recent price surge, the memecoin is still down 67.47% from its all-time high. Nonetheless, since dropping to a multi-month low of $0.00001704, the Dogecoin competitor has risen 72%.

Bitcoin, the most popular cryptocurrency, hit a new high of $43,000 earlier today, up 30.5 percent from its recent low of $32,950. It's down 37.95 percent from its all-time high.

The recent price surge of the crypto king has pushed the rest of the cryptocurrency market higher. Ethereum, Binance Coin, Cardano, Solana, and a slew of other prominent cryptocurrencies are all up. The Ripple-affiliated XRP has gained over 10% in the last 24 hours.