Elon Musk tweets in a matter of hours… Shibainu (SHIB) increased by 300%

Elon Musk tweets in a matter of hours… Shibainu (SHIB) increased by 300%

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[Blockchain Today Reporter Ji-eun Lee] Cointelegraph reported that the price of the Shiba Inu (SHIB) token rose by 300% within hours of Elon Musk’s tweet.

According to reports, on the evening of the 13th (local time), Tesla’s CEO posted an article on Shiba Inu in a tweet. This dog, a native Japanese breed, was at the center of famous memes during the birth of Dojikoin in 2013. This meme features a dog looking into the camera with a confused look.

According to CoinGecko’s data, SHIB’s price rose 300% in the hours following Musk’s tweet.

Musk’s social media activities partially contributed to the price hike of Dogecoin in 2021. Tesla’s CEO posted a DOGE-themed tweet the day before, but there was no increase as in early February, and the token price rose only 4.6% over the past 24 hours. However, the price of SHIB reached a record high of $0.00000008 and then returned to $0.00000005.

It’s unclear if this billionaire’s tweet was his attempt to accept Shiba Inu, or another attempt to increase the price of a particular token. Musk previously said, “There is a big dog called Gatsby, a small dog called Marvin, and a cat called Schrödinger.”

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