This Top Shiba Inu Catalyst Won't Be Much Help Going Forward

If you invested in stocks during the coronavirus crash, there's a good chance you're sitting on some healthy gains. The benchmark S&P 500 took less than 17 months to more than double from its March 2020 bottom.

But if you decided to put your money to work in cryptocurrencies, there's a possibility you've lapped the stock market many times over. That's because the aggregate value of digital currencies has soared more than 1,700% over the same time frame to $2.62 trillion. While Bitcoin and Ethereum (CRYPTO: ETH) have led this nominal increase, it's meme coin Shiba Inu (CRYPTO: SHIB) that's come out of nowhere to become the 11th-biggest cryptocurrency by market value ($26.4 billion, as of Nov. 19).

Shiba Inu-breed dogs have inspired a number of popular cryptocurrencies. Image source: Getty Images.

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Source Fool.com