Edward Snowden warns Shiba Inu holders of risking all their savings on "clone of dog money"

Edward Snowden took to Twitter recently to warn the holders of Shiba Inu against betting big on the meme cryptocurrency. He stated that people should refrain from spending their "rent money" in hopes of getting big returns from Shiba Inu.

Meme cryptocurrencies have always been a point of skepticism among experts. Now adding fuel to the fire is Edward Snowden, who has warned investors from pumping their money into such coins. The comment from Snowden comes right after dog coin Shiba Inu saw a record price surge in the cryptocurrency market.

An investor-led rally saw Shiba Inu's price skyrocket to more than 300 per cent in value within a period of 3 days last week. The cryptocurrency based on the popular dog Shiba Inu grew beyond the market capitalisation of several large companies, dethroning Dogecoin as the most valued meme cryptocurrency.