Although the price of Dogecoin (DOGE) rose again to over $ 0.06 over the weekend, this time another symbol based on the beloved dog benefited from the hype surrounding Elon Musk’s social media.
On Saturday night, the Tesla boss said he would get a Shiba Inu dog for his family. The dog, a breed belonging to Japan, was at the center of the popular meme on which Dogecoin was founded in 2013. The meme shows the dog staring into the camera with a seemingly embarrassed expression while the flowing text represents his inner monologue.
While Musk’s tweets likely contributed to the DOGE price hitting a full-time high of over $ 0.08 earlier this year, it looks like the token price didn’t go down until the billionaire bought a new pet. Maybe the Tesla boss was kidding, or maybe he also meant Shiba Inu (SHIB), another symbolic project.
According to CoinGecko, the SHIB price is up 300% in the hours after Musk’s tweet:
Musk’s social media activity may be partly responsible for the rise in DOGE prices in 2021. Although the Tesla boss also tweeted a series of Dogecoin yesterday, the token price has not risen as it did in early February. Over the last 24 hours, it has only grown by 4.6%. However, the SHIB price reached a new full-time high of $ 0.00000008 and then dropped to $ 0.00000005.
It is unclear whether the billionaire intends to add Shiba Inu to his family, or whether this tweet is a new attempt to inflate the price of some tokens. Musk said earlier that he has “a large dog named Gatsby, a small dog named Marvin the Mars, and a cat named Schrödinger.”