shiba inuhas managed to become one of the fastest rising and most talked about assets of the crypto money world recently. Both the interest of whales and the work of big investment firms Shiba Inu put memecoin (joke coin) on an unexpected rally. SHIB/USDT is up over 8% in the last 24 hours alone to trade around $0.000030.
Contrary to expectations, SHIB, a memecoin promoted as the Dogecoin killer, has been very sensitive to the main players and other crypto assets in the market and has experienced rapid and strong rises, succeeding in following their trends. BTC trading escalated as Bitcoin hits $60,000 and Bitcoin ETFs will soon receive approval from the US, also benefiting from support and interest among buyers on the memecoin Shiba Inu, resulting in increased trading.
What Elon Musk Tweeted About SHIB
Elon Musk’s cryptocurrency At a time when his influence in his world was thought to be diminishing, Musk shared a photo of his dog Floki, and investors interpreted this photo as a Shiba Inu signal. As a result, there was an increase in the price of SHIB. In a recent tweet, Musk shared a character-made image of a Shiba Inu dog holding a rocket in my hand.
(_/)
( •_•)
/ >🚀— Elon Musk (@elonmusk) October 17, 2021
Although it is not known exactly what the shared image represents, investors in the cryptocurrency world interpreted it as coins such as Shiba Inu and Floki Inu. As if these weren’t enough, different memecoins shared their photos by sending a message under the tweet.
I’ve thought about and … I’m not sorry for party rocking
— Elon Musk (@elonmusk) October 17, 2021
In a new tweet after the tweet he shared, Musk said, “I thought and … I’m not sorry for party rock.” wrote an article. SHIB followers, on the other hand, interpreted this tweet as Musk’s support for DOGE will now make it to SHIB.
Shiba Inu NFTs Are On The Way And Whales Continue To Take Care Of SHIB!
Of course, this is not the only positive development for SHIB. Shiboshis, a Shiba Inu-themed NFT collection, can be purchased via ShiboshiSwap using LEASH tokens. In addition, a mixture of LEASH and ETH can be used in tokens for these transactions. The total supply will be 10,000 NFTs.
As we mentioned in the news we shared with you before, some of the ETH whales bought a large amount of SHIB.
Do you think these developments in Shiba Inu are strong enough to start a new rally in SHIB price? Or will memecoin not find the energy to become as strong as its rival DOGE?
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.