Elon Musk response caused Shiba Inu value to drop 20%

SHIB saw a 20% drop in its price when Elon Musk announced that he does not have this dog-themed coin.


The so-called "DOGE father" and Tesla CEO, Elon Musk, replied to a question posted on Twitter that led to a quick major drop in the price of a canine-themed coin called SHIB.

In this tweet, the Twitter user, @ShibaInuHodler, asked Elon Musk about the amount of SHIB he owns. To his/her surprise, the answer was "None".


Source: Twitter

Elon Musk’s answer left a huge quick impact on the price of the Shiba Inu token. The SHIB price instantly dropped by 20%. It was about to set a new ATH. When Elon Musk replied, SHIB dropped to $0.000035 within 30 minutes and it’s been going up and down between $0.000035 and $0.00004.

There were different reactions to this Tweet and the comment from Mr. Musk. The main reply was from the tweet owner "ShibaInuHodler" who suggested Elon Musk in a reply to buy SHIB. There were other opinions too. Some have argued that asking Musk and generally involving such celebrities in crypto is wrong.

Another user, Shibalaskan, begged everyone to "plz stop pestering celebrities when the community is doing fine without this sort of foolishness."

This, however, was not the whole story. Musk once again supported Dogecoin and stated that the reason for this support is that many of the SpaceX staff hold Doge. And they are just normal people.

"Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own Doge. They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge – it felt like the people’s crypto. "



Latest News

$150 million in USDT was frozen by Tether

A rationale for blacklisting three addresses has not been given by Tether, although it has done so in the past to cooperate with law enforcement and help exchan ...

JAN 14, 2022

Reddit will go public

Internet forum Reddit Social network announced its plans of going public and it is filing for an IPO. ...

DEC 17, 2021

Tesla will accept Dogecoin and DOGE rises 25%

Elon Musk announced that Tesla will accept DOGE as the only cryptocurrency when the payment starts. ...

DEC 14, 2021

90% of the Bitcoin total supply is already mined

Reports say that only 10 percent of the Bitcoin supply is left and they will be mined but at a little slower pace. ...

DEC 13, 2021


Shiba Inu

Elon Musk


Shiba Inu

Elon Musk