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| pic credit: google images |
Elon Musk recently unleashed a bomb on cryptocurrency in a tweet, boosting the whole crypto market by nearly 5%. His actions impacted not only Bitcoin and Ethereum but other meme coins like Shiba Inu. Shiba Inu is projected to become a large currency that everyone will be interested in.
Many cryptocurrency aficionados continue to praise Elon Musk for the recent price surge. Elon Musk, the CEO of SpaceX and Tesla, recently tweeted something about bitcoin, which pushed cryptocurrency values even higher. What effect will this have on Shiba Inu prices? These concerns will be addressed today.
What was it that he tweeted about?
We'll also see if Shib still has the ability to turn people into millionaires. So stay tuned for that, since today's piece is absolutely packed with important Shiba Inu news. Elon Musk's support for meme coins like Shiba Inu, Floki Inu, and Dogecoin is well-known.
However, we haven't heard anything about cryptocurrencies from tech billionaire Elon Musk in a long time. However, the Market showed some good improvements after his recent tweet concerning meme coins. Elon Musk recently surpassed Jeff Bezos to become the world's richest man, with a net worth of $300 billion.
He asked his followers on Twitter today if he should sell 10% of his Tesla stock to buy bitcoin. He enquired in this tweet. Given the recent focus on unrealized gains as a form of tax avoidance, I recommend selling 10% of my Tesla stock. Do you agree with this?
Furthermore, almost 3 million Twitter users participated in Billionaire's poll in support of his decision to purchase Bitcoin. What are your thoughts on Elon Musk's decision to keep his tax gains? Is this a wise decision?
Shiba Inu's price is currently stabilizing after a small sell-off. This isn't the first time he's gotten involved in the crypto wars to try to influence the market. Elon Musk, the CEO of Tesla, has already helped Shiba Inu climb the list of the most valuable cryptocurrencies by tweeting a photo of his puppy.
The meme token is now depleted after he stated that he does not own any Shib. "None," Musk replied to a Twitter user who asked how much Shiba Inu he owns. Musk has consistently promoted Dogecoin on social media and frequently comments on cryptocurrencies in general.
In a subsequent tweet, he stated that he had purchased Bitcoin, Ether, and Dogecoin, and that "that's it." But last month, he became a Shiba Inu bull. Why? Let's take a look at what he said and what that tweet signifies.
He just uploaded an image of a Shiba Inu dog holding a rocket in his hand in his tweet. This single tweet aided in the price increase of all major meme coins. Shiba Inu, Baby Dogecoin, and dogecoin all saw a significant price increase as a result of this.
This isn't the first time Elon Musk has mentioned Shiba Inu Coin on Twitter. Celebrities' involvement, such as Elon Musk's, has the potential to control the price of meme coins. Elon Musk, the CEO of Tesla, recently revealed the name of his Shiba Inu dog on Twitter.
"My Shiba Inu will be named Floki," Musk, who is quite active on social media and tweets about anything from electric cars to space exploration to cryptocurrencies to his 61 million followers, stated. Shib With a 2,500 percent gain in May, it demonstrated that it has the ability to astound investors. This was followed by more tweets such as. With an image of a Shiba Inu puppy, he tweeted on May 7: "I'm searching for a Shiba pup."
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| pic credit : twitter |
Then, in September, he posted a photo of his Shiba Inu puppy snoozing on a mat with the caption, "Floki has arrived." This aided in the price increase of meme coins. If he truly owns nothing but bitcoin, ethereum, and doge, that is. Why, then, is he so adamant about baby doge, floki inu, and Shiba Inus?
The Shiba Inu had a particularly nice month last month. Shiba Inu has been green since the beginning and has shown enormous returns. When everyone said the Shiba Inu was extinct and had no practical use.
With the influx of coinbase listings at the time, Elon Musk increased the price of Shiba Inu by tweeting an image of a Shiba Inu puppy sitting on a Tesla with the caption "Floki Flunkpuppy" on October 4th. Shiba Inu was able to achieve a price increase of more than 350 percent in just 5 days as a result of this. Isn't it fascinating?
Further indications of a listing by Robinhood boosted the price to an all-time high. What are your thoughts on the matter?
Is it ethical for celebrities to control the price of crypto assets?
Famous celebrities' statements have an impact on the crypto market since their statements influence millions of people's decisions to acquire and sell crypto assets. Everyone knows what happened in the second quarter of 2021 with dogecoin and how Elon manipulated the price to reach an all-time high.
The Shiba Inu currency, which was created as a joke, now has over 900,000 owners. Shiba Inu, the DOGE killer, is currently the most popular cryptocurrency on the market. This parody cryptocurrency, which has a Shiba Inu dog as its logo, is following in the footsteps of Dogecoin, seeking to be the finest alternative to it.
However, even a year after its inception, the Shiba Inu token is still regarded as one of the most popular meme coins, outranking dogecoin. There will be highs and lows, but nothing on the scale of the bitcoin crash of 2017.
While there is a theory surrounding the cost of these assets as Institutions recognize the utility of these tokens, a substantial percentage of that is attributable to the utility of these digital currencies. We can't claim the same for Shiba for the time being, and just a few items are certain to change as a result of updates.
Many investors are keeping an eye on Shiba Inu crypto as they wait for the auto burn and supply algorithms to go live. Holders think that listing Shiba on well-known cryptocurrency exchange platforms like Coinbase and Robinhood, as well as the automatic burning of the huge token supply, will enhance investor interest and, as a result, the token's worth by 2021.
The price of shib would have to rise by 60% per month compounded throughout the remaining time before the end of 2021. If the Shiba inu keeps growing at its current rate, it might reach $0.10 by 2025.
Many investors are keeping an eye on Shiba Inu crypto as they wait for the auto burn and supply algorithms to go live. Holders think that listing Shiba on well-known cryptocurrency exchange platforms like Coinbase and Robinhood, as well as the automatic burning of the huge token supply, will enhance investor interest and, as a result, the token's worth by 2021.
The price of shib would have to rise by 60% per month compounded throughout the remaining time before the end of 2021. If the Shiba Inu keeps growing at its current rate, it might reach $0.10 by 2025.