TESLA Will Accept Shiba Inu Coin, and Why SHIB Will Reach $0.01

TESLA Will Accept Shiba Inu Coin
pic credit: change.org

Investing gurus believe the SHIB coin will recover. Nonetheless, it may not be a wise investment. Shiba Inu investors are crossing their fingers and paws in the hopes of receiving positive news that will help to boost the meme coin's slow pricing.

In today's article, we'll look at what Elon Musk just said about the Shiba Inu, as well as WHY SHIBA ACTUALLY HAS POTENTIAL to hit $0.01 per share. Today, we'll answer these questions and talk about etoro's involvement with the Shiba Inu currency.

eToro, an online stockbroker, has announced that it is introducing a slew of new crypto assets to its platform, sparking a social media frenzy. shib was trading in the red with the rest of the cryptocurrency market, down by a double-digit percentage in the last 24 hours, though it has subsequently pared its losses to just 7%.

To be clear, eToro has not commented on the individual crypto assets in the works; all it has said is that it is joining a new group of coins. The corporation also asked for predictions from its followers and received over 7,000 responses.

The Shiba Inu community interpreted this as an invitation, possibly hoping that their anticipation would become a self-fulfilling prophesy, as being listed on a trading platform like eToro would improve the shib coin's liquidity and profile.

eToro covers equities in addition to crypto-assets, broadening its appeal. eToro already accepts about a half-dozen crypto assets, including Dogecoin, a humor coin whose mascot Doge is the inspiration for the Shiba Inu cryptocurrency.

Shiba Inu sees itself as the "Doge Killer," and the two meme coins have since become rivals. "You barked, and we heard you," eToro said to investors while announcing its support for DOGE. Dogecoin, Shiba Inu's main competitor, is also under strain today.

Mark Cuban, the billionaire internet entrepreneur who owns the Dallas Mavericks, is a lover of DOGE, which is accepted as a payment mechanism for the NBA franchise he owns. Cuban originally believed that if the club could trade 6,556,000,000 DOGE in team items, the Dogecoin price would undoubtedly reach USD 1. Doge, the older Shiba Inu meme coin, is presently going for around USD 0.22.

He is said to believe DOGE can be a worthwhile investment but advises investors to "know why" they are buying rather than "getting caught up in the frenzy." Shiba Inu investors, not to be outdone, have set a lofty goal of USD 1 for their favorite cryptocurrency, which is currently trading for less than a penny. 

They're even thinking about shib making its way onto the major cryptocurrency exchange Coinbase, though this is all just speculation at this point. And all of the conjecture in the world isn't helping to lift the shib price out of its funk. As luck would have it, the eToro team decided to add three more crypto assets to their platform, leaving Shiba Inu investors scratching their heads for the time being.

The Shiba Inu community was perplexed, to say the least. Some threatened to unfollow the account on Twitter, while others said they would completely abandon the platform. Others took a more philosophical approach, pointing out that eToro agreed to include "coins" rather than "tokens," although Shiba Inu belongs to the latter camp.

Recently, the Shiba Inu cryptocurrency has had a volatile month. The value of the Shiba Inu coin surged after Coinbase announced that the Shiba Inu coin would be added to Coinbase Pro. In contrast to the adoption of Dogecoin, which appeared to take DOGE years, Coinbase accepted shib just over a month after the coin was created. However, the excitement surrounding the Shib coin may have tapered down, and the currency may have already reached its pinnacle.

It's always a hint of a price peak when a coin appears in the emerging trends list, especially in the top three. Because it represents a peak in social hype, the price is unlikely to maintain its rise without an increase in social volume or enthusiasm. Will the Shib coin make a comeback? The Shiba Inu coin is expected to recover quickly.

It's possible that the rise will be sufficient to overtake Dogecoin. The Shib currency has been dubbed a "Dogecoin killer" since its inception. Because both currencies have a Shiba Inu dog as their mascot, they are instant competitors in the crypto industry. For some, Shiba Inu may be a fun, albeit high-risk, wager, but it isn't only fun. Their main goal is to find new, life-changing blockchain Cryptos with low risk and equal potential for profit.

So, while some people are looking for a low-effort moonshot with meme crypto, others are reading over research done by crypto groups and firms, looking for the ultimate, most asymmetric bets. Shiba Inu pups have also become a hot commodity as a result of the recent rise of Dogecoin and its buzzy crypto cousin, Shiba Inu currency, which also employs its namesake breed as a mascot.

Fans of cryptocurrencies, as well as those with a keen sense of fashion, are buying up Shiba Inu puppies, resulting in a boom for the teddy bear-like canines, which corresponds to the growing cryptocurrency market.

Elon Musk has been noticeably quiet regarding Dogecoin in recent weeks, declaring his support for a fee transition but otherwise avoiding any mention of the cryptocurrency on his Twitter account. The Shiba Inu-themed coin, which was created as a joke in 2013 but shot to prominence this year thanks to Tesla CEO Elon Musk, has plummeted more complexly and quickly than most of its contemporaries, shedding 74% of its value since reaching an all-time high on May 8.

Despite this, the joke coin continues to have widespread support, with members of the self-proclaimed "Doge Army" remarking on social media that it is still the eighth largest cryptocurrency by market valuation. Furthermore, altcoins are thought to be more volatile than bitcoin, with larger price movements on both the upside and downside.

Musk's refusal to rally the soldiers, many of whom have never heard of Dogecoin, reveals a grudging understanding that the eight-year-old joke is, well, getting old. Cryptocurrency critics have long argued that it requires utility and has no chance of mass adoption, and not only because it's a meme.

Shiba Inu creators gave half of their reserved tokens to Vitalik Buterin, the founder of the Ethereum network, in the hopes that he would keep them, giving the coin more exposure and lowering its volatility. Buterin, on the other hand, donated 90% of the Shiba tokens delivered to an Indian Covid-19 relief fund. This movement resulted in the removal of 40% of Shiba tokens from circulation. Following this, the coin's value plummeted by 35%.

Buterin announced shortly after that he intends to donate the remaining 10% to charitable organizations. The rise of the Shiba coin, on the other hand, is mostly due to the popularity of its rival, Dogecoin, which was recently criticized by its most prominent supporter, Elon Musk. Crypto traders and aficionados were expecting Musk to mention Doge's bright future in his debut on Saturday Night Live, but he didn't.

Instead, they claimed that Doge is a "hustle" and that it was "made as a joke," causing its value to plummet by 35% in just 24 hours. Musk is well-known for his support of several cryptocurrencies, and he even has his own, dubbed "ElonGate," which began a few months ago. Tesla's CEO has even begun to accept bitcoin as a means of payment in his company. 

He's now polling the public to see if Tesla should get Dogecoin. Musk, dubbed "The Dogefather," has now put the matter to the public, with a majority of people voting yes. While he has not confirmed whether he will accept it as a form of payment at his company, it is widely assumed that Dogecoin will be used for income and investment in the same manner that Bitcoin is.

The problem is that Dogecoin has yet to reach the $1 level, which many investors believe would establish and legitimate the coin as a stable form of cash. Despite the fact that the Shiba Inu-themed coin was only released, Elon Musk has already promoted it heavily. Musk has already been into trouble for allegedly "manipulating stock prices higher" through his tweets. Still, he shows no indications of backing down from his intentions to take Dogecoin to the moon and now to Tesla.


"I'm getting a Shiba Inu #resistanceisfutile," he tweeted in March, implying that he was planning to adopt a pet. This, together with the rise in popularity of Dogecoin, has boosted the value and appeal of the Shiba Inu currency. Shiba supporters claim that the popularity of digital coins has made their professions as important as ever.

Cryptocurrency has a significant chance of becoming the world's future money. Then the question becomes, which one will it be? It might be a number of things.” “The currency that began as a joke becomes the real currency,” he added. This isn't the first time musk has spoken publicly about his love of dogs, either on the Internet or in general.

Last year, after uploading a photo of a dog with the message "So pleased," Twitter users accused Musk of "stealing" the image. It was eventually revealed to be a photograph of Morgan Murphy, an American stand-up comedian.

As a result, we can expect Shiba Inu to be accepted as a payment option by Tesla because it has lower gas prices and a faster transaction speed than bitcoin and dogecoin.

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