Elon Musk Dropped SHIB by 20%
After Tesla CEO Elon Musk announced that he did not own any of the Shiba Inu coins, the SHIB rate fell 20%.
SHIB rallied above its previous all-time high on Sunday, marking a local top at $0.000044. Since the beginning of October, the coin is up more than 500%.
Against the backdrop of such a rise in the price of the token, Twitter user ShibaInuHodler asked Musk how much SHIB he holds in his investment portfolio. To which Musk replied: “Not one.”
Immediately after Musk’s answer, SHIB lost 10% in the first half-hour alone, falling to the level of $0.000035. Since then, SHIB has hovered between $0.000035 and $0.00004.
Some SHIB investors suggested that Musk could invest in the coin, while others criticized ShibaInuHodler for attracting Musk.