Shiba Inu Price Soars Drastically Due to Elon Musk


 The Shiba Inu, a cryptocurrency that is a spin-off of Dogecoin, has suddenly skyrocketed in price. Investigate, it turns out that Elon Musk has played a role in the price increase of the Shiba Inu.

The currency with the symbol of the Shiba Inu dog has increased in price by 55% and has a market capitalization of USD 5.22 billion.


Initially, Elon Musk posted a tweet about his most recent pet dog, named as Floki. Floki, the Shiba Inu type, sits on top of a Tesla car.



The tweet made the hashtag #SHIB suddenly trend on social media timelines. The price was recorded to have penetrated $ 0.00001312. In addition to Elon Musk's tweet factor, the price of the Shiba Inu also rose because the team behind it was rumored to be making a project to strengthen this cryptocurrency.




Floki Frunkpuppy pic.twitter.com/xAr8T0Jfdf


— Elon Musk (@elonmusk) October 4, 2021

Elon Musk himself is known as a hard-line supporter of Dogecoin -- to the point of being called the 'Doge Father'. However, later, he indicated that he also glanced at the Shiba Inu and this was not the only time he helped the price increase with just a tweet on Twitter.


This Shiba, which is also informally known as the Shiba Token, was created in August 2020 by someone under the pseudonym Ryoshi as a spin off Dogecoin.


Shiba Inu Token has a logo that is almost the same as Dogecoin, which is a Shiba dog. However, unlike Dogecoin, which started as a meme, the dog logo on the Shiba Inu Token looks fierce.


Despite all the enthusiasm, some experts have warned that the Shiba Inu Token may be a much more risky investment than any other type of cryptocurrency.

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