Tech billionaire Elon Musk announced in late 2020 that he owns the Shiba Inu-themed meme cryptocurrency Dogecoin. The price of the meme coin soared after his announcement and rallied at unprecedented levels. DOGE went from a low of $0.002 in November 2020 to an all-time high of $0.73 in May 2021. In just six months, the meme coin skyrocketed 36,500%, generating massive profits for investors.
In interviews, Elon Musk also openly spoke about Dogecoin and regularly tweeted about the meme currency. He also hosted the Saturday Night Live (SNL) titled ‘The Dogefather’. The entrepreneur stepped ahead and called Dogecoin “the people’s currency.” His endorsement of DOGE added millions of new investors to the cryptocurrency market worldwide. At the same time, Dogecoin got a competitor in the meme segment, and the token was Shiba Inu.
Also Read: Shiba Inu To Reach $0.0017, Delete Two Zeroes
Shiba Inu: How Much SHIB Tokens Does Elon Musk Hold?
Source: Twitter
During the peak of the bull run in 2021, the meme currency segment was divided into two groups primarily Dogecoin and Shiba Inu. Both camps acted as rivals dissing each other on all social media platforms. The SHIB camp grew by leaps and bounds as the token soared 85,000,000% (85 million percent) between 2020 to 2021. A handful of investors were keen to know if Elon Musk invested in Shiba Inu after buying Dogecoin.
Also Read: Dogecoin Turns an Investment of $1,000 Into $1.8 Million
One such investor went ahead tagging Elon Musk on X asking him if he owns Shiba Inu tokens in his portfolio. To everyone’s surprise, the Tesla CEO replied to the tweet that asked him if he owned SHIB tokens. At that time, speculations were also rife that Elon Musk could be the founder of Shiba Inu.
Source: X
Also Read: Shiba Inu: AI Sets SHIB’s Price For December 10, 2024
“Hey, Elon Musk, how much SHIB you are holding?” asked the user. To which he responded, “None.” So there you go: Space X founder Elon Musk confirmed on social media that he does not own SHIB tokens. He only holds Dogecoin, Bitcoin, and Ethereum in his portfolio and no other cryptocurrencies.
