The dogecoin phenomenon is spreading around the world. Just please read the woofpaper.

Watch out, dogecoin: A new digital token trending (and price-pumping) in Chinese cryptocurrency circles is billing itself as the “DOGE killer.” 

The new SHIB token has unabashedly coopted the name of the Shiba Inu dog breed whose image has come to represent the joke cryptocurrency dogecoin. Perhaps as menacing, SHIB has just garnered fresh listings on the three most popular cryptocurrency exchanges among Chinese users, Binance, Huobi and OKEx. 

And this puppy is all of a sudden garnering astonishing investment from Chinese traders, even though they seem well aware that the project appears to have no earnest technological promise. On Monday, when Binance launched trading in the SHIB token, the price nearly doubled on Huobi, where it was already trading.