The Shiba Inu cryptocurrency token leapt in price on Monday to its highest value in months.
The dog-themed token was up around 50 percent over the past 24 hours as of 7:00 a.m. EDT on Tuesday, worth $0.000013 with a market cap of roughly $5.1 billion according to CoinMarketCap data.
It is unclear why Shiba Inu has increased in price so sharply. Cryptocurrencies are notoriously volatile and can rise and fall in price rapidly. Experts have previously warned Newsweek about the dangers and risks associated with trading them.