Despite the price of Dogecoin (DOGE) surged over the weekend to breakout of $ 0.06 again, this time being another token based on a cuddly dog benefiting from the hype surrounding social media posts by Elon Musk.
In a tweet Saturday night, Tesla CEO to speak he will buy a Shiba Inu dog for his household. The dog – whose breed is native to Japan – is the center of the popular meme that Dogecoin is based on in 2013. Meme depicts the dog looking at the camera with an expression that seems bewildered as the text floats. showing its inner monologue.
Musk’s tweets are likely, though contributed to the DOGE price hitting an all-time high of more than $ 0.08 earlier this year, the token price did not seem flinching at the billionaire’s acquisition of a new family pet.
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The Tesla CEO may have joked, or could also refer to Shiba Inu (SHIB), another token project.
According to data from CoinGecko, the price of SHIB rose 300% in the hours after Musk’s tweet:
Musk’s social media may be partially responsible DOGE price moves in 2021. Although CEO Tesla also composed a series of Dogecoin-themed tweets yesterday, the token price has not soared as it was in early February, only up 4.6% over the past 24 hours. However, the SHIB price established a new all-time high of $ 0.00000008 before falling to $ 0.00000005.
It is not clear if the billionaire intends to add the Shiba Inu to his family, or if the tweet is another attempt to increase the price of certain tokens. Musk has been to speak he has “a large dog named Gatsby, a small dog named Marvin the Martian and a cat named Schrödinger.”