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300% growth of Shiba Ino tokens after Elon Musk tweet


In the hours following the release of Elon Musk’s tweet, the price of the Shiba Inu کن token ‌ saw a 300% price increase. Although the price of Dogecoin has risen again to $ 0.06 over the past few days, this time Elon Musk wrote on social media in favor of another token based on the image of this funny dog.

to the the report Coin Telegraph tweeted Saturday (March 23rd) that Tesla CEO Ilan Musk announced that he was going to buy a Shiba Inu dog for his family. The dog, which is of Japanese descent, is the famous joke on which the 2013 Dogecoin token was based. The humorous image of this joke shows a dog of the Shiba Inu breed staring at the camera in a seemingly confused state, while colorful phrases next to it show the conversations that are going on in the dog’s mind.

300% growth of Shiba Ino tokens after Elon Musk tweet
Picture of Shiba Inou’s famous joke

Although Musk tweets may have been a key factor in Dogecoin rising to more than $ 0.08 earlier this year, the billionaire’s tweets about buying his new pet do not seem to have had much of an impact on the token price. Is. Tesla’s CEO may have been joking, or perhaps referring to another project called SHIBA Ino with SHIB Native Token.

According to data from the CoinGecko platform, the price of the slope token has increased by 300% in the hours following the Musk tweet.

300% growth of Shiba Ino tokens after Elon Musk tweet
The trend of increasing the price of slope tokens after Elon Musk’s tweet. Source: Coin Gico

Elon Musk’s activity on social media may have been one of the factors driving Dogecoin token price movements in 2021. However, yesterday (March 15), the price of this digital currency, unlike in early February (mid-February), did not react much to Tesla CEO Dogecoin’s tweet and contented itself with a 4.6% price increase; But during this time, the price of the slope token reached a new record at $ 0.000000008. At the time of writing, the Dogecoin is down 9.5 percent from the previous day, while the slope token is benefiting from a 32 percent drop.

It is unclear whether the billionaire intends to add a Shiba Inu dog to his family, or whether the tweet was another attempt to raise the price of certain tokens. Earlier, Musk had said:

I have a big dog named Gatsby, a small dog named Marvin the Martian and a cat named Schrینdinger!

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