Shiba Inu-themed memecoins, such as shiba inu (SHIB), floki (FLOKI), kishu inu (KISHU), and baby dogecoin (BABYDOGE), saw significant gains after Twitter replaced its logo with Dogecoin's Shiba Inu mascot. The sector jumped 14% on average, with some tokens surging as much as 25%. However, some traders warned that these moves are non-indicative of a broader trend and are unlikely to hold for the long term. Bonnie Cheung, head of strategy at crypto developer Sending Labs, noted that there could still be long-term growth for these tokens if fundamental features strengthen in the coming months. The launch of Shiba Inu's layer-2 protocol and the increased recognition of Dogecoin by Twitter and the payment world could help record more sustained growth over the long term.

(By Shaurya Malwa)