Tech billionaire Elon Musk announced in late 2020 that he owns a Shiba Inu-inspired meme cryptocurrency called Dogecoin. The price of the meme coin skyrocketed after his announcement, reaching unprecedented levels. DOGE rose from a low of $0.002 in November 2020 to an all-time high of $0.73 in May 2021. In just six months, the meme coin has skyrocketed 36,500%, generating huge returns for investors.
Elon Musk has also spoken openly about Dogecoin in interviews and frequently tweets about the meme coin. He is also the host of Saturday Night Live (SNL) show ‘The Dogefather’. The entrepreneur has come forward and called Dogecoin “the people’s currency”. His endorsement of DOGE has attracted millions of new investors to the cryptocurrency market worldwide. At the same time, Dogecoin has a competitor in the meme and token segment, the Shiba Inu.
Shiba Inu: How Many SHIB Tokens Does Elon Musk Hold?
During the height of the 2021 bull run, the meme currency segment was divided into two major groups: Dogecoin and Shiba Inu. Both factions acted as competitors, undermining each other on every social media platform. The SHIB faction grew exponentially, with the token skyrocketing 85,000,000% (85 million percent) from 2020 to 2021. A handful of investors wanted to know if Elon Musk invested in Shiba Inu after buying Dogecoin.
One such investor went on to tag Elon Musk on X and asked if he owned Shiba Inu tokens in his portfolio. To everyone’s surprise, the Tesla CEO responded to the tweet asking if he owned SHIB tokens. At the time, there was also speculation that Elon Musk might be the founder of Shiba Inu.
“Hey Elon Musk, how much SHIB do you hold?” the user asked. He replied, “None.” And there you have it: Space X founder Elon Musk has confirmed on social media that he does not own SHIB tokens. He only holds Dogecoin, Bitcoin, and Ethereum in his portfolio and no other cryptocurrencies.
