Did Elon Musk forget about Shiba Inu?
Let's talk about Elon Musk and Shiba Inu
On March 14, 2021, Elon Musk tweeted that he was going to get a Shiba Inu.
Although he was talking about a dog, the tag was obvious, and he also mentioned the cryptocurrency of the same name.
Musk contributed greatly to the popularity of Shiba Inu
Dogecoin, which was created in 2013, is the first meme coin, and its prototype is a famous dog.
Musk started supporting Dogecoin in early 2021, and in March, he started supporting Shiba Inu again.
Shiba Inu is different from Dogecoin, which was a token released the previous year.
Before March 2021, Shiba Inu was unknown in the cryptocurrency market, but when Musk mentioned it, it became popular, and the price rose from $0.0000005 to $0.0000034.
This is not the end. After May, it continued to rise. In November, the price hit a new high of $0.0000088.
Simply put, in less than ten months, it rose more than 15,000 times.
But the good times did not last long.
It was obvious that this was a speculative bubble, which burst at the end of 2021.
A year and a half later, the price fell below $0.0000008, a drop of more than 90%. In 2023, the price fell again, falling below $0.0000007.
The market rebound at the end of 2023 was useless, it just interrupted the downward trend, and the price still fell to $0.000000011.
Musk has not mentioned Shiba Inu since July 2022.
However, the price of Shiba Inu still follows Dogecoin.
For example, in March this year, Dogecoin rose by 140%, and Shiba Inu also rose.
At that time, it seemed that the decline had come to an end, because the price of Shiba Inu rebounded to more than $0.0000003. But in the next few months, it fell again, but it was always higher than $0.00000011.
It has risen again recently
Since October, the price of Dogecoin has risen again, and it has risen by 300% in two months.
Shiba Inu has rebounded since September, although it has only recovered to more than $0.000003 now.
Although the cryptocurrency market has been good recently and some altcoins have also risen, the price of Shiba Inu has not returned to the high point in March.
For the next layout direction, I will lead everyone to aim at the profit opportunities of altcoins, especially those projects with great potential. There is no problem with the expected space of more than 10 times. If you want to make a lot of money in the bull market, like + leave a message, and take you to layout the entire bull market together!
