Are Meme Coins Back? Shiba Inu Is Up Over 200% in 3 Months
Excitement is building in the crypto world again as the price of Bitcoin (CRYPTO: BTC) continues to climb, reaching a price of more than $69,000 on Tuesday, a new record. The cryptocurrency has surged as the approval of spot Bitcoin exchange-traded funds (ETFs) earlier this year has made it easier to invest in the digital currency.
It's not just Bitcoin that's doing well, either. Investors are being more bullish on crypto in general. Two popular meme coins that have also been generating impressive returns in recent months include and Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE). Is this a sign that meme coins are also back in the public eye, and are they safer investments to hold in your portfolio today?
A good way to gauge the excitement of meme coins is to look at how well two of the most popular ones are doing in Dogecoin and Shiba Inu. The latter has more than tripled in value in just three months, while the former has risen about 50%, and Dogecoin was even higher before a recent pullback. Bitcoin, by comparison, has increased by about 40% over the same time frame.
Source Fool.com
