As if not increasing, Elon Musk just tweeted ‘I don’t own any Shiba Inu’, immediately the price of ‘dog coin’ dropped

As reported, Elon Musk has just helped “dog coin” Shiba Inu (SHIB) climb the ranks of the world’s largest digital currencies by market value by posting a photo of his pet dog. . Specifically, the price of the digital currency Shiba Inu increased by nearly 50% in the session of October 24, 2021, bringing the growth rate from the beginning of the month to now to nearly 500%. Currently, the market capitalization of SHIB has surpassed the 15 billion USD mark and is in the top 15 cryptocurrencies of the market.

However, at the moment, this meme cryptocurrency has plummeted after Musk said that he does not own any coins.

In fact, Musk is someone who has repeatedly flattered Dogecoin on social media and frequently talks about how the cryptocurrency should be more widely used. And just recently, when answering a Twitter user’s question how much Shiba Inu he holds, Musk replied: “None”. In a follow-up tweet, he said he bought Bitcoin, Ether, and Dogecoin, and “that’s it.”

According to data from CoinGecko.com, as of 9:30 a.m. Monday, SHIB is down 15% from its all-time high reached on Sunday Hong Kong time.

Dogecoin has gained about 10% in the past 24 hours, according to CoinGecko.

Recently, Shiba Inu has received many positive signals including the push to get it listed on Robinhood – the breakthrough with the ecosystem of the coin and the general enthusiasm for the digital currency. memes. However, many market watchers say there is often little reason for SHIB’s price swings and warn that the digital currency could struggle to maintain its current momentum. SHIB was founded in 2020 by an anonymous person named Ryoshi.