Key Takeaways
- When a Twitter user asked Elon Musk how many SHIB tokens he presently had, the billionaire responded that he possessed none.
- The Shiba Inu dropped by nearly 20% following the Tesla CEO's reaction.
- Since Elon Musk's announcement, the token's value has fluctuated between $0.000035 and $0.00004.
- Many investors slammed the Twitter user who sent the question to Musk, stating that there is no need to bother celebrities with inquiries while the token is still doing well.
Shiba Inu (SHIB), which had recently increased, dropped by 20% in under two hours after Elon Musk revealed on Twitter that he owns no Shiba Inu tokens.
The decline began after the token had initially surpassed its first record high to reach$0.000044 on October 24, nearing a 500 percent ride up since early October.
During the coin's price rally, a Twitter user named "ShibaInuHodler" asked Tesla CEO Elon Musk how much SHIB he presently has, to which he answered, "None."
While the token's trader had already moved in to profit on the SHIB's record high, the token would quickly fall by 10% to $0.000035 within 30 minutes after the Elon’s answer. Since then, the Shiba Inu has hovered between $0.000035 and $0.00004.
Many SHIB investors have responded to Musk's comments in different ways, suggesting that TESLA’s CEO should invest in some of the tokens.
However, some investors chided ShibaInuHodler for approaching Elon Musk with such a query, with " Shibalaskan " warning them to refrain from pestering celebrities with queries while the token is doing well without such acts.
With the events, it seems the DOGE saga may have resurfaced following Elon Musk's return to Twitter to promote the Dogecoin feature.
On October 24, Tesla CEO Elon Musk tweeted that the majority of workers he employs on the assembly line at his company or in the creation of rockets in space use the Doge token.
He went on to say that these folks aren't even bankers or techies from the Silicon Valley. As a result, he decided to embrace Dogecoin since it seemed to be the money of the people.
What are your thoughts on the Shiba Inu token's future prospects now that it has dropped so sharply?
