But it has struggled to hold on to this momentum, with its price flailing between $0.00002 (£0.000015) and $0.00003 (£0.000016).
At the time of writing, people can buy a single Shiba Inu coin for £0.000019.
SHIB hit at low as £0.000017 overnight, before rebounding slightly this afternoon – but it’s a far cry from the last week’s peak of £0.000022
It was hoped SHIB could reach $1 but the latest charts show its value has cratered into a downtrend in recent days.
CoinMarketCap, which tracks high performers on the cryptocurrency market, has the SHIB price trajectory marked in red.