Billionaire entrepreneur Elon Musk answered a question about how many Shiba Inu tokens he holds in his crypto portfolio.
A widely followed crypto influencer has resurfaced his comments about Musk’s potential. $SHIB Collection. The post attempted to suggest that Musk’s comments had a negative impact on Shiba Inu prices.
Important points
- In 2021, Elon Musk stated that he does not own any Shiba Inu tokens.
- He revealed that he only owns Bitcoin, Dogecoin, and Ethereum.
- The billionaire has consistently downplayed the Shiba Inu, even though the ecosystem is trying to get his attention.
- Although it has distanced itself from Shiba Inu, it continues to have a close relationship with its rival Dogecoin.
Elon Musk admits he doesn’t own any Shiba Inu
On October 24, 2021, Mr. Musk said:$SHIB When asked how many Shiba Inu he owns, Musk replied that he did not own any Shiba Inu tokens, ending speculation that he was accumulating them. $SHIB Behind the scenes.
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— Elon Musk (@elonmusk) October 24, 2021
Notably, this question arose because Musk had already become a prominent supporter of Dogecoin. His frequent posts about meme coins greatly influenced its popularity and price fluctuations.
Additionally, his company SpaceX has enabled Dogecoin payments for some products, further strengthening the connection to the asset.
Given this close relationship with Dogecoin, many crypto enthusiasts wondered if Musk was also investing in Shiba Inu, which was gaining attention at the time. But his response made it clear that he wasn’t thinking anything. $SHIB.
Shiba Inu still reaches ATH
Although Musk’s comments caused a temporary backlash, $SHIBThe price did little to slow the token’s momentum. When exchanging, $SHIB It traded between $0.000033 and $0.000044.
However, just four days later, on October 28, 2021, the token soared to an all-time high of $0.00008845. Since then, the Shiba Inu has fallen significantly from its peak and is currently trading at approximately $0.000005703, approximately 93.55% below its record level.
Mask ignores Shiba Inu team
Since that interaction, Musk has largely avoided interacting with members of the Shiba Inu community. Nevertheless, the project’s developers and supporters have repeatedly tried to attract his attention.
For example, Shiba Inu lead developer Shaitoshi Kusama proposed a Blockchain Innovation Strategy Hub (SHIB) and suggested it could contribute to efforts related to the Donald Trump administration. The proposal followed Musk’s planned launch of a Department of Government Efficiency.
Additionally, the Shiba Inu team highlighted several ecological achievements in hopes of securing Mr. Musk’s recognition and support. Supporters believe that if Mr. Musk backs him. $SHIB Just like his endorsement of Dogecoin, it could cause a huge market momentum.
So far, Musk has remained silent about these efforts and continues to distance himself from the Shiba Inu project. Nevertheless, he admitted to holding several cryptocurrencies in his personal portfolio, including Dogecoin, Ethereum, and Bitcoin.
