- The non-stop surge of the canine-themed SHIB halted when Elon Musk revealed he owns none of the coins.
- SHIB already surged past its ATH but after this shocking reveal, SHIB plummeted down to 20%.
- The Twitter (NYSE:TWTR) crypto community has varied reactions on the matter.
The world has seen how the canine-themed coin, Shiba Inu (SHIB) continuously increased over the past weeks. However, this took to a sudden halt when a Twitter user, (@ShibaInuHodler), bravely asked the Tesla (NASDAQ:TSLA) founder, Elon Musk, if he owns SHIB or not. Much to the Twitter crypto community’s surprise, Musk replied “NONE” — which sparked interesting conversations in the space.
None— Elon Musk (@elonmusk) October 24, 2021
The user, @ShibaInuHodler then suggested Musk to invest in SHIB — perhaps to save his face and cover up the unexpected answer from him. Of course, the Twitter crypto space has varied reactions on the matter. Some even criticized the @ShibaInuHodler for even thinking of engaging Musk in this.
Furthermore, two hours after this heated conversation, SHIB plummeted to 20%. The retracement came just after SHIB surged its previous ATH, $0.000044 on Oct. 24.
Looking at SHIB’s graph above, one can see its stable growth. The coin quickly rose in ranking — now, it is at the 13th spot in CoinMarketCap.
However, as also seen in the graph, SHIB must have a strong community as it quickly recovered from the sudden dip. Knowing this, traders could conclude that with Elon Musk or not, SHIB shows a promising future ahead of it.
At the time of writing, Shiba Inu (SHIB) trades at $0.00003987, with a 171.35% 24H volume increase, according to CoinMarketCap.