Elon Musk Says He Doesn’t Own Shiba Inu Tokens, Enraging SHIB Hodlers

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Felix Mollen
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Elon Musk has a Shiba Inu puppy at home. Elon Musk has joked about Shiba Inu, but Elon Musk doesn’t hodl Shiba Inu.

Replying to one of the many Shiba Inu accounts on Crypto Twitter, the famous Elon Musk confirmed that he didn’t own Shiba Inu, despite being a highly influential figure for that community.

Elon Musk Has no Shiba, Floki, or Any Other Dogecoin Spin-Off

And although his puppy’s name is Floki, Elon Musk does not have a single Floki token either.

Elon Musk said he only owned Bitcoin, Ethereum, and Dogecoin (a portfolio he had already revealed). The disclosure came with a piece of advice for all maximalists —be it Bitcoin, Shiba Inu, or any other cryptocurrency: faith in a coin does not matter as much as the ecosystem of services built around it.

It seems that Elon Musk prefers the original meme to the copy. The world’s richest man has been actively working to improve Dogecoin and make it globally viable as a fast, cheap, and scalable medium of exchange.

The Dogecoin Foundation even appointed an associate of Elon Musk as a member of its board of advisors, so it could be said that the entrepreneur’s relationship with Dogecoin goes far beyond memes.

Elon Musk’s love for Dogecoin has spread throughout his company. In a subsequent tweet, the entrepreneur claimed that many of his employees also owned Dogecoin, and this was one of the things that motivated him to get into this cryptocurrency.

Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own Doge. They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge – it felt like the people’s crypto.

— Elon Musk (@elonmusk) October 24, 2021

The Cute Puppy Shows Its Teeth

Shiba Inu, which until then had embarked on a nearly 50% bull run over the weekend, had an almost instantaneous drop after Elon Musk’s Tweet.

The cryptocurrency had reached an ATH of $0.00004217. As Cryptopotato reported, this was enough to lift a $1K purchase of $SHIB earlier in the year to $500 Million in October. But after Elon’s tweet, the token crashed to $0.00003282, a dangerous loss of over 27%. From there, it managed to recover a bit to its current price of $0.00003770.

Of course, this unleashed the wrath of the Shiba Inu community, which, upset by the losses, called to cancel Elon, criticizing his excessive influence and clamoring to “break free” from the Musk effect.

I hope you’ve learned to never ask Musk again. From ATH to almost no increase in a few hours time. We came all this way without him just for you to get greedy. ?

— jbraden (@jbraden59481456) October 24, 2021

Way to poke someone and screw up the gains that were just made. Hoping for a positive reply to help boost prices shows you want Elon’s support. Don’t worry about it as it was doing just fine without it. Now his influence just helped drop the price.

— Keith Greenwood (@keithgreenwood) October 24, 2021

Did you have to ask this question? Shiba had already succeeded without Elon and Robin Hood. We came to this situation because of a stupid question. ???????

— Hülagü Khan ?? (@Hulagukhan0) October 24, 2021

We need to stop asking this man questions lmbo. No need to reaffirm what Shiba Army controls. We can’t let another man control our future. We took a dip after his answer…. pic.twitter.com/I1cCeF7sNT

— IronLuxxTrader (@PeterGSanchez1) October 24, 2021

But maybe that grudge will pass when Elon releases a new photo of his puppy, raising the token to the heights… Again.