Shiba Inu Is Going Parabolic Again-What to Know About Today's 20% Surge

After what seemed like an eternity of selling (but really just a couple of weeks), Shiba Inu (CRYPTO: SHIB) has returned to form. This popular meme token has soared more than 20% higher over the past 24 hours, as of 10:30 a.m. ET.

In the cryptocurrency space, many investors are after lottery ticket-like returns. And Shiba Inu hasn't disappointed them in this regard. On a year-to-date basis alone, investors who have held this token now have gains of more than 55,000,000%. Accordingly, today, it appears sentiment is once again turning ultra-bullish on this meme token.

As fellow Fool contributor Sean Williams recently pointed out, Shiba Inu is approaching an important milestone later this month. It's expected Shiba Inu should hit 1 million investors at some point in the coming weeks. With concern around the concentration of SHIB held in just 10 wallets (roughly two-thirds of all Shiba Inu tokens), this is a big deal.

Source Fool.com