Shiba inu’s epic rally has lifted its market value to $40 billion,
The unlikely and epic rise of shiba inu has propelled the meme-inspired cryptocurrency to a market valuation of more than $42 billion in recent days.
That trumps the market worth of companies behind some of the most iconic US brands, as well as some meme stock darlings of the Reddit army.
The total has fallen back to $40.45 billion as of early Saturday, according to CoinMarketCap data. But shiba inu’s market capitalization has shot up since it was created in August last year.
Thanks to the “SHIBarmy” – fervent fans of the coin – its price has rallied more than 950% in the past month. The rise has been spurred by Tesla CEO and crypto fan Elon Musk tweeting about his shiba inu puppy, and a crypto whale buying 276.7 billion coins.
Noam Galai/Getty Images
Ticker: AMC
Price per share: $35.37
Market cap: $18.16 billion
Notes: AMC, which has been around since 1920, is the largest movie theater chain in the US.
AMC, which not long ago was flirting with bankruptcy, saw its stock price skyrocket this year as part of the meme stock buying spree among retail traders. Its shares have risen 1,568% this year so far.
The crypto-friendly cinema chain has said it plans to accept bitcoin, ethereum, and litecoin for some payments, and announced it will take dogecoin for gift card payments after a Twitter poll was overwhelmingly in favor.
AMC may even issue its own digital coin, its CEO Adam Aron said.
Yum! Brands
SOPA Images
Ticker: YUM
Price per share: $124.94
Market cap: $36.94 billion
US fast-food group Yum Brands is the owner of iconic brands like KFC, Pizza Hut and Taco Bell, which it operates worldwide.
Based in Louisville, Kentucky, it has more than 50,000 restaurants in over 150 countries.
Recently, Yum Brands snapped up an AI-powered platform to improve food prep and optimize delivery, part of a tech buying spree.
Its shares are up 15% in 2021 so far.
Robinhood Markets
MoMo Productions
Ticker: HOOD
Price per share: $34.97
Market cap: $30.06 billion
Robinhood is a US trading app and platform used by retail investors. It has built a roster of cryptocurrencies — such as bitcoin, ether and dogecoin — since it was established in 2013.
Fans of shiba inu have called on Robinhood to add the coin to its crypto list, but its CEO Vlad Tenev has said the company is waiting for regulators to clarify the situation.
Robinhood angered many customers earlier this year when it halted buying of GameStop, AMC and other meme stocks during an epic rally.
Influential investor Cathie Wood’s Ark Invest purchased $79.4 million worth of Robinhood shares this week, after the company reported disappointing earnings. Its stock has fallen more than 10% below its July IPO price of $38 per share.
General Mills
Brandon Bell
Ticker: GIS
Price per share: $61.80
Market cap: $37.43 billion
Minneapolis-based General Mills, which traces its history back to 1856, is known for…
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