Elon Musk Tweet on Shiba Inu Coin and price will hit $1.0 soon?

Elon Musk Tweet on Shiba Inu Coin that it is on the way to hit 10 cents soon if you’re up to date on the current market trends on the

cryptocurrency world then surely you cannot have possibly missed the recent boom of the beam based crypto tokens

one of those lovable tokens is the smash hit Shiba Inu coin that snared the market when it first emerged in 2020 branding

Elon Musk Tweet on Shiba Inu

itself as the dogecoin killer with the recent development progress on the Shiba inu coin and some significant boosting from some big names Shiba

Inu coin might just see itself become the king of the meme and dog-inspired crypto tokens aside from this a bulk of Shiba inu coin’s popularity and trust among

investors are mainly owned to its avid fanbase that tirelessly promotes and talk about the beloved coin the fans of the token often take to

Twitter to promote and talk about the currency in hopes of increasing market demand for it the crypto coin has experienced some

great spikes in activity over the last couple of weeks on Twitter mainly owed to a wide variety of factors beyond just fan promotion most recently Shiba inu

experienced a big boom over the last two days with the hashtag Shiba hashtag trending several times on twitter’s top 10 on October 4th the sudden rise in

talk about Shiba inu coin has seen the trading volume of the crypto token rise up by triple digits that day even standing at 2.8 billion dollars during

the time it was going rounds on Twitter as of October 6th the trading volume of the last 24 hours alone is up by 87.45 percent and now stands at 9.8 billion

dollars all of that because of a very specific tweet on the morning of October 4,

Elon Musk recent Tweet on Shiba inu coin

Tesla Motors CEO Elon Musk posted a picture, not just any picture it was an adorable picture of his new dog a Shiba inu enjoying the sun while hanging

out in a tesla car, he captioned the photo Floki frunk puppy people were crazy about the photo not just because of how cute the dog looks but also

because of what it could mean for the dog-themed crypto market the usual rumor circulated once again once the photo was posted will tesla accept dog themed

crypto coins as payment as expected she trended on Twitter alongside this photo the price of the coin shot straight up

after weeks of seeing a steady upward trend in fact the price of the Shiba Inu coin quite literally deleted a zero and is now standing at zero point zero zero zero zero one eight seven dollar

compared to just three days ago when it was at zero point zero zero zero zero zero nine zero three-dollar the price is currently hiking up at a rate of forty six-point two nine percent with charts

hitting all green for the Shiba inu coin this is the highest the price has gotten since another spike in may the entire shebang is known in the crypto community

as something called the Elon musk effect and this is not the first time that something like this has happened according to market analysis meme coins

are highly susceptible to this type of tendency to the point where even the creator of dogecoin couldn’t resist striking up a sarcastic tweet in a

response to a tweet update made by crypto influencer Mr whale in the original tweet Mr whale commented how the crypto market was currently in a

mania bubble right now they could burst any second dosh going creator shibatoshi Nakamoto responded saying not at all this is how rational markets work

shooting up due to something that has no bearing on anything related to business or utility and simply due to someone’s

running-related tweet back on September 13 Elon musk also posted another picture of floki on his Twitter which garnered a lot of traction as well seeing a surge

in prices, in dog-themed coins like dogecoin Shiba floki and of course, Shiba inu coin according to coin market caps real-time updates on Shiba inu coin

Urgent SHIBA INU NEWS | Shiba inu Token Update Tesla accepts it as payment options?

 

the token is now standing at rank number 27 in the charts with 1 million people keeping it on their watch list as the coin is experiencing some surges

we may recall that this surge in prices has been going on for a few weeks now especially with recent developments on china bino’s listing on coinbase pro and

Binance two of the largest crypto trading sites these big listings have exposed the coin to more prospective investors raising the market demand for

Shiba inu with people trusting that the coin will continue its upward track along with the charts this recent tweet by Elon musk only serves as more leverage

for the coin to keep up that trend in price surge helping it reach and perhaps even surpass his earlier price spike back in May there’s no denying that a

A simple succinct comment from Elon musk has ignited a lot of excitement and enthusiasm for dog-themed coins with more and more people turning to Shiba

Read Also: Shiba Inu Coin Binance Price | BINANCE ANNOUNCED WHEN SHIBA WILL HIT $0.1?

Inu coin as their next investment opportunity a lot of other dong themes altcoins have emerged in the market lately with the knowledge that aligning

themselves with dogecoin and Shiba inu coin and grabbing musk’s attention can help in triggering a price increase in trading activity for their currency

looking at the larger picture behind Shiba inu coin’s growth this spike due to the so-called Elon musk effect is but a point in its recent history as the coin

has been enjoying steady growth on its own due to growing market trust and development updates from the Shiba inu team like the recent coinbase listing

its goal is to get listed on robin hood and some coin burning plans in the future from the creators of the Shiba inu coin since the coin’s establishment Shiba has

been taking the cryptocurrency world by storm it’s trended multiple times and it’s never been out of the conversation

when it comes to talking about accessible and exciting new crypto tokens that investors can stake their money on as it continues to break glass ceilings with

its goal of becoming the new king of dog theme and meme-based tokens in the market most recently since the recent update

letting investors finally trade sheep on the coinbase app Shiba inu has been listed as the leading u.s exchange less than a month after coinbase finally ironed out

Kingston letting people handle Shiba on their site since the update from coinbase and this new tweet from Elon musk Shiba now has a

comfortable lead over bitcoin when it comes to 24 hour trading volume not only that but over the last 24 hours alone

Elon Musk Tweet on Shiba Inu Coin Impact?

Reasons Why SHIBA INU PRICE IS GOING UP
Elon Musk Tweet on Shiba Inu Coin and price Pump?

Shiba has also enjoyed a stellar sword at prices as it significantly outperformed its competitor dogecoin with Shiba prices experienced a price

the surge of more than 70 percent within October 4 to 5. Doge was only up by 10 percent during this time this impressive figure even landed

Shiba inu coin has boosted the coin’s trading volume over the last few days making it the fifth most traded cryptocurrency just behind tether

Bitcoin, Ethereum, and the Binance USD Stable coin this spike in the price of Shiba Inu is particularly interesting noting that it gained more footing again because of Elon Musk if we can recall back in May,

Elon actually made a comment on bitcoin and the cryptocurrency market saying that he and tesla are concerned about the energy used behind bitcoin.

Musk expressed how he believes cryptocurrency is a good idea on many levels and holds a promising future but he is still on the fence about it and has removed bitcoin from one of the payment options of tesla this opinion of his has led to a drop in his reputation among crypto followers

but his influence on the market remains as seen with the price increase in all doge related cryptocurrencies over the last few days

Once the underdog of the dog theme tokens in the market, Shiba didn’t just surpass its competitor dogecoin but it led the market with its double-digit gains over the last 24 since the tweet market analysts and investors alike have been skeptical of Shiba Inu coin in previous months many believe that the

coin might not even reach its own one cent milestone by the end of the year at the relatively sluggish pace that it was going back in July the price wobbled in in the 0.000 983 range for a while and

it proved to be a difficult hurdle for a moment but with the continued trust of investors new big market listings and new developments on Shiba inu coin signed the beloved token persevered

and proceeded to climb up the charts despite the odds stacked against it the so-called Elon Musk only sought to hasten this growth even more with the thought of the lovely fluffy dog in the mind’s eye of the investors

the market recalled the Shiba inu coin gave it a new push towards the forefront of people’s minds, this increased awareness of the coin and its growing trust and fan base are all catalysts to further ensure the upward trend of  Shiba inu coin launched in 2020

with a very daring slogan and a goal that many thoughts were too high to reach it aims to be the dogecoin killer donning the same dog breed on its logo Shiba inu persisted

and just like that as we’ve seen in the latest cryptocurrency statistics dogecoin has been losing ground not just to sheep but also to its other dog and meme themed competitors with Shiba inu making large strides over the past couple of weeks trying to hark back to that all-time high

it experienced earlier this year, it’s entirely possible that Shiba goal of becoming the next king of the hill when it comes to meme-based cryptos will be achieved sooner

then we thought especially with this new bump from Elon musk and his adorable new Shiba inu dog

Read Also: Shiba Inu Coin Binance Price | BINANCE ANNOUNCED WHEN SHIBA WILL HIT $0.1?

Disclaimer: I am not a registered financial advisor so please do your own research and this post is just for an educational purpose and based on my opinion and not a buying guide.

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