Tesla Musk Announced Shiba Inu Coin Price will hit $0.01soon!!
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Memecoins had continued shortcomings since the crypto crash in May. Shiba and Dogecoin were one of the greatest washouts during that crash, and they missed most of the reversals in summer, while other cryptos made impressive gains, welcoming 200-400% since late July.
While Doge has not been quite ecstatic, SHIB investors have gotten euphoric after Tesla Boss Elon Musk posted a picture of his Shiba Inu dog on top of his Tesla car in the first week of October. It is no fresh news that Musk uses tweets to back meme cryptocurrencies, and even though the tweet was not directly related to SHIB, there’s the expectation that Musk will tweet about SHIB in the future. That has been enough to send the coin to its ATH.
Shiba has become one of the top 20 coins by market value and has tripled since its start of October. Along with rising interest for the past few months, Elon Musk is the “blame” for this coin to have gone parabolic. With the upside momentum picking up pace after the break of its resistance, the coin has seen the biggest spike yet since May.
Although the Tesla C.E.O did not outrightly label the photo with SHibaInu, the meme coin has skyrocketed leaving Dogecoin advocates questioning what had just transpired.
Despite Musk’s past experiencing harsh criticism from the crypto community, he appears to be back, this time with even more clandestine pump schemes. His price-pumps came into the spotlight earlier this year after he stated that he had bought Bitcoin in February right in the $40,000 starting a pump that pushed prices to new highs.
The usual bits of hearsay whirled about: could Tesla soon accept Dogecoin or any of the related canine-themed as payment? But one thing was certain: the price of several altcoins did see a jump.
People have been taking the recent spike on meme coin as a hint that Musk could be gearing up to announce as a payment method for Tesla cars soon. This has pushed considerable interest in Dogecoin, and as it shares a strong positive correlation with Shiba Inu, has added to its rally as well.
Crypto influencer Mr. Whale showed that after Twitter met Musk’s puppy, the Shibu Inu token saw an ascent of more than 85%. This aided the token hit its greatest cost since around May.
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