SHIBA INU Drops 20% in Price as Elon Musk Confirms He Owns None

Musk is a famous name within the SHIBA INU community, however, his last tweet only enraged the SHIB holders. The crypto advocate confirmed that while he owns BTC, ETH, and DOGE, he didn’t make any investment in SHIBA INU.

Musk has shared pictures of his SHIBA INU puppy before, but it seems that the puppy is the only SHIBA INU he has. 

Don’t Bet the Farm on Crypto! 

Although a significant figure in the SHIBA INU community, when he was asked on Twitter how much SHIB he is holding, Musk responded with ‘none’. He also didn’t invest in the Floki token, despite naming his puppy Floki.

The successful entrepreneur advises not to focus much on the coins as in what you can build with them and make a change in the community. 

Doge – the People’s Crypto

Known as ‘The Dogefather‘, Musk chooses the original meme to the copy and it is constantly working on Dogecoin improvements.

One of his associates is a board member of the Dogecoin Foundation and this love for Dogecoin is shared with his company members. Actually, it was this reason, many of his employees owning Dogecoin, that encouraged him to embrace it as well.

Moreover, he believes that you don’t have to be a financial expert to invest in it, Doge is for all people.

SHIBA INU Crashes 20% After Musk’s Tweet 

After Elon Musk’s Tweet, SHIBA INU, which had been on an almost 50% bull run over the weekend, dropped in price. 

Following Elon’s remark, the token plummeted to $0.00003282, a risky loss of almost 27%. It has since recovered a little to its current price of $0.00003770.

This angered the SHIBA INU community on Twitter as many expressed their irritation with Elon Musk and his big influence over the token. They deemed the original question unnecessary, stating that the coin doesn’t need anyone’s help to make it, not even Musk.

Whether the situation might change if Elon posts another photo of his puppy resulting in new records for $SHIB prices, remains to be seen. 

Also Read: SHIBA INU Price Prediction 2021 and Beyond – Is SHIB a Good Investment?