Shiba Inu Coin gains momentum by the tweet of Elon Musk

Hamza Hayat

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Shiba Inu

Once again Shiba Inu Coin surged up with a recent tweet of Elon Musk. Elon Musk plays a key role in raising and lowering the market values of Cryptocurrencies. The SpaceX CEO and Tesla Founder recently tweeted on his social account regarding Shiba Coin.

In his tweet, he mentioned, “My Shiba Inu will be named Floki”.

Now, what that exactly means? according to Desert News, Elon Musk owns a Shiba Inu dog.

Just a single tweet increases the market value of Dogecoin killer by at least 25% in few hours as according to Yahoo Finance.

The meme-based coin which is introduced with the nickname “Dogecoin Killer” founded in 2020. After all, its value is increasing rapidly as most of the crypto investors had invested in it. Moreover, after Musk tweet most of his followers also invested in SHIB Inu.

Furthermore, Elon Musk also slammed Bitcoin while he announced that Tesla has suspended Vehicle purchases using Bitcoin. Which suddenly decreased the Bitcoin market value with a huge margin.

Elon Musk tweet about Tesla and Bitcoin,

Tesla has Suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel”.
“Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment”.

Now, this could be hate or dislike for Bitcoin or something else. But we all know Musk is the real game-changer.

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