Elon Musk Says He Doesn’t Own Shiba Inu Tokens, Enraging SHIB Hodlers

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Elon Musk has a Shiba Inu puppy at home. Elon Musk has joked about Shiba Inu, but Elon Musk doesn’t hodl Shiba Inu.

Replying to one of the many Shiba Inu accounts on Crypto Twitter, the famous Elon Musk confirmed that he didn’t own Shiba Inu, despite being a highly influential figure for that community.

Elon Musk Has no Shiba, Floki, or Any Other Dogecoin Spin-Off

And although his puppy’s name is Floki, Elon Musk does not have a single Floki token either.

Elon Musk said he only owned Bitcoin, Ethereum, and Dogecoin (a portfolio he had already revealed). The disclosure came with a piece of advice for all maximalists —be it Bitcoin, Shiba Inu, or any other cryptocurrency: faith in a coin does not matter as much as the ecosystem of services built around it.

Elon Musk says he has no Shiba Inu. Image: Twitter
Elon Musk says he has no Shiba Inu. Image: Twitter

It seems that Elon Musk prefers the original meme to the copy. The world’s richest man has been actively working to improve Dogecoin and make it globally viable as a fast, cheap, and scalable medium of exchange.

The Dogecoin Foundation even appointed an associate of Elon Musk as a member of its board of advisors, so it could be said that the entrepreneur’s relationship with Dogecoin goes far beyond memes.

Elon Musk’s love for Dogecoin has spread throughout his company. In a subsequent tweet, the entrepreneur claimed that many of his employees also owned Dogecoin, and this was one of the things that motivated him to get into this cryptocurrency.

The Cute Puppy Shows Its Teeth

Shiba Inu, which until then had embarked on a nearly 50% bull run over the weekend, had an almost instantaneous drop after Elon Musk’s Tweet.

The cryptocurrency had reached an ATH of $0.00004217. As Cryptopotato reported, this was enough to lift a $1K purchase of $SHIB earlier in the year to $500 Million in October. But after Elon’s tweet, the token crashed to $0.00003282, a dangerous loss of over 27%. From there, it managed to recover a bit to its current price of $0.00003770.

Price of Shiba Inu. Image: Tradingview
Price of Shiba Inu. Image: Tradingview

Of course, this unleashed the wrath of the Shiba Inu community, which, upset by the losses, called to cancel Elon, criticizing his excessive influence and clamoring to “break free” from the Musk effect.

But maybe that grudge will pass when Elon releases a new photo of his puppy, raising the token to the heights… Again.

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