Dogecoin clone Shiba Inu (SHIB) surged more than 70% on Monday following a tweet from Elon Musk. The Tesla boss tweeted a photo of the meme coin Shiba Inu puppy Floki, causing SHIB to trend on Twitter. According to Coinbase data, the altcoin has risen nearly 8,000% in a year.
Dogecoin clone SHIB deleted a zero with the effect of Elon Musk!
The Dogecoin clone known as the Shiba Inu surged more than 70% after Tesla CEO Elon Musk tweeted another picture of the puppy. Elon Musk’s dog named Floki is a Shiba Inu, the iconic dog behind Dogecoin. On September 12, Musk tweeted a picture of his Shiba Inu, first saying, “Floki has arrived.” The billionaire’s latest tweet caused the hashtag SHIB to start trending on Twitter as individual investors applauded the price increase.
Founded in August 2020 as an Ethereum-based alternative to Dogecoin, Shiba Inu also increased in comments on 4chan on Monday, according to data from TopStonks.com. On Twitter, many noted that the meme coin price has removed a zero from its decimal place. According to data from Coinbase.com, last year the Shiba Inu rose nearly 8,000% in one year. While Elon Musk’s influence on the cryptocurrency market is waning somewhat, he has been a major driver of dramatic cryptocurrency price swings this year. Celebrities, including billionaire investor Mark Cuban and AMC CEO Adam Aron, are taking steps to keep the Dogecoin price higher.
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