Shiba Inu (CRYPTO: SHIB) topped intra-day gains on Wednesday, rising 5% and beating top meme coins by market capitalization such as Dogecoin (CRYPTO: DOGE) and Dogelon Mars (CRYPTO: ELON).

What Happened: SHIB's rally can be attributed to two major catalysts – an overall crypto market in the green with Bitcoin (CRYPTO: BTC) breaching the $18,000 level, and Ethereum (CRYPTO: ETH) touching the $1,400 mark. 

The second reason is SHIB’s recent collaboration with the Bugatti Group luxury brand, which specializes in the manufacture, marketing and selling of baggage, purses, attaché cases and accessories.

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The second top meme-coin gainer, as per CoinMarketCap is DOGE, the largest meme coin by market capitalization, surging 4.77%, trading at $0.08, but yet to reach the $0.10 mark. 

Dogelon Mars was third on the list, gaining 3.58% in the last 24 hours.

Price Action: ETH was trading at $1,398, up 5.11% in the last 24 hours, according to Benzinga Pro.

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