In the crypto market, everything can change at any time. Sometimes a tweet by a famous name triggers this change, sometimes a new listing on a crypto exchange or a crypto investment made by a large company.
When it comes to Shiba Inu (SHIB), one of the most popular altcoins of recent times, the tweets do not seem to have a negative impact. As a matter of fact, after Elon Musk’s last SHIB tweet -he stated that he had no SHIB investment – the declining altcoin soon recovered and rose to a new historical peak of $0.00004442 yesterday.
On the same day, after Tesla CEO shared the “ANTI-SHIB” tweet, SHIB, which fell by about 14% to $0.00003472, soon started to rise and managed to reach $0.00004 level.
Stating that Musk’s tweets had no effect on SHIB, PAC Protocol President David Gokhshtein took the issue to Twitter and shared the following tweet:
$SHIB did it without Elon — so I don’t believe the project is hurt because of what Elon said today.
If Elon said that about $DOGE, that would have been a different story.
Elon needs to chill though and help grow the space in general.
— David Gokhshtein (@davidgokhshtein) October 24, 2021
The story would have been much different if the same tweet had been about DOGE, adding that PAC CEO Elon needed to calm down and help grow the field in general.
However, stating that the rise in SHIB has nothing to do with the listing in the Robinhood application, the CEO of PAC Protocol underlined that the altcoin in question recorded this rise on its own.
As is known, the Robinhood platform added SHIB to its customer survey on Saturday. This decision was made to examine users’ crypto preferences.