Shiba inu, the meme-based bitcoin rival that’s rocketed up the crypto price charts in recent weeks, has left those that missed out searching for the next viral cryptocurrency.
The shiba inu price has surged almost 1,000% this last month alone, far outpacing bitcoin’s mere 50% rally. Meanwhile, a Squid Game-inspired cryptocurrency has soared even higher, despite a raft of serious warnings.
Now, following Facebook’s corporate rebrand to Meta and founder Mark Zuckerberg’s focus on creating a virtual so-called metaverse, the price of Decentraland’s mana cryptocurrency has added 300% this week—giving it a total market capitalization of around $6 billion.
Sign up now for the free CryptoCodex—A daily newsletter for the crypto-curious. Helping you understand the world of bitcoin and crypto, every weekday
The shiba inu price surge has helped a number of other minor bitcoin rivals soar as traders pile … [+]
NurPhoto via Getty Images
This week, Facebook, the social media giant that counts photo app Instagram, messaging app WhatsApp and virtual reality company Oculus among its brands, announced its rebranding under the umbrella Meta in order to create its digital metaverse—something that some think will include a role for blockchain-based non-fungible tokens (NFTs), which enable all manner of digital media and assets to be tokenized.
Decentraland, launched in 2019 after raising $25 million in its 2017 initial coin offering (ICO) and described as a metaverse built on the blockchain, has this week seen traders pile into its mana token due to interest surrounding Facebook’s rebrand. Mana is now ranked as the 44th most…
