The value of the Shiba Inu has dropped by 20% since Elon Musk announced that he doesn’t own any coins.


The value of the Shiba Inu has dropped by 20% since Elon Musk announced that he doesn’t own any coins.

The price of Shiba Inu, the dog meme cryptocurrency, has dropped by 20% after Elon Musk declared he doesn’t own any.

Following the billionaire’s announcement, the cryptocurrency dropped from $0.00004391 to $0.00003472 in just a few hours.

Shibu Inu is a cryptocurrency token that can be held in trillions of units.

Shiba Inu tokens feature the same dog as Dogecoin, a cryptocurrency that has become one of the most popular this year.

Its value skyrocketed earlier this month as a result of another tweet by Mr Musk, who has a Shiba Inu dog and shared a picture of it on the social networking site, sparking a massive rally.

Mr Musk’s opinion is sought by millions of people wishing to invest in cryptocurrencies, which means the Tesla CEO can either boost or depress the price of coins with a single tweet.

Shiba Inu’s value has plummeted following his latest tweet on the coin.

Mr Musk was asked how many Shiba Inu tokens he held by a Twitter user named @ShibaInuHolder, to which the billionaire replied, “none.”

Thousands of people liked and shared both tweets, and the price of the coin dropped by 20% in three hours as a result of the transaction.

It demonstrates how volatile cryptocurrency investing is, since the price of any coin can go up or down in the blink of an eye.

If you decide to invest, you run the chance of losing a lot of money.

You may lose all of your money, and because they are not regulated, you will have no one to complain to if something goes wrong.

Only invest money that you can afford to lose on financial items that you understand.

Shiba Inu is a newer coin that is even riskier than more established tokens like bitcoin and ethereum.

Shiba Inu has rebounded from its low of $0.00003472 and is now trading at $0.00003922, a 13 percent increase since Mr Musk’s tweet.

However, it is still worth less than it was before Mr Musk’s post.

It’s not the first time a Shiba Inu has died in the middle of the night.

After China announced a series of strong crackdowns on the cryptocurrency sector in the summer of this year, the coin – along with other tokens – spiraled.

The market also fell when Binance, one of the largest cryptocurrency exchanges, was banned by the UK’s financial regulators in May.

Investing in any cryptocurrency is dangerous, and we’ve compiled a list of everything you need to know.

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