Kapanlagi.com - Elon Musk is once again causing a stir among crypto players. Now, even laypeople are questioning what the real meaning of Shiba Inu is. Why has it been the subject of discussion in the past few days?
Yes, after causing a commotion through tweets that affected the price of Bitcoin some time ago, Elon Musk is once again causing a "commotion" through a Tweet that doesn't directly mention the crypto market. For laypeople, the answer to the question of what is the meaning of Shiba Inu might be something they are looking for.
If based on Elon Musk's tweet that includes a photo of a brown dog with smooth fur, Shiba Inu refers to a popular dog breed in Japan. However, if it is related to the crypto market, the answer to the question of what is the meaning of Shiba Inu will be different.
Now, for those of you who want to follow the discussion about the price of Shiba Inu currency, please refer to the information compiled from various sources below.
Illustration (Credit: Pixabay)
Recently, Shiba Inu has become a topic of discussion among crypto players due to its skyrocketing price. So, what does Shiba Inu actually mean? Shiba Inu or SHIB token is part of a dog-themed cryptocurrency created anonymously by someone using the pseudonym 'Ryosi' in August 2020.
This coin was inspired by a dog meme that circulated on social media. Shiba Inu also claims to be 'The Dogecoin Killer', as it is a competitor in the cryptocurrency market that also uses a dog image as its logo. SHIB token is listed on Huobi, Binance, Uniswap, Gate.io, and OKEx.
Illustration (Credit: Pixabay)
Elon Musk's tweet, CEO of Tesla, once again influenced the price of cryptocurrency. This time, it's Shiba Inu that struck gold. Now, you might wonder, what does Shiba Inu, which reportedly experienced a 55 percent price surge, mean? Although Elon Musk didn't mention anything about the cryptocurrency, its influence is remarkable.
The tweet, accompanied by a photo of a puppy of the popular Japanese dog breed, Shiba Inu, has caught the public's attention. Posted on October 4th, the tweet has received 35 million retweets, over 28 million comments, and more than 350 million likes so far. Not only on Twitter, but the tweet also influenced crypto investors who then flocked to buy Shiba Inu coins. This is evident in the skyrocketing trading volume of Shiba Inu coins, reaching 770 percent.
The impact caused by Elon Musk through the tweet of a dog photo with the caption "Floki Frunkpuppy" cannot be underestimated. The initial goal of Shiba Inu coin to compete with Dogecoin seems to have been achieved effortlessly. This clearly makes crypto players complain. For example, in one of the comments quoted from Elon Musk's Twitter (7/10/2021), "ELON HELP ME I INVESTED 10 THOUSAND OF MY MONEY IN DOGE A FEW MONTHS AGO AND WHEN I TRIED TO SELL IT I ONLY GOT 4 THOUSAND," said the @ChrisAmericaFan account. This comment also invited responses from others who responded with various comments. "It's okay, put that 4 thousand into #SHIB and make it back... and then get some!" said the @ParagonDigital3 account with a winking smiley emoticon. However, there were also unpleasant responses that called him poor. Yes, if you ask what Shiba Inu means now, it clearly brings various answers with a significant impact on the crypto currency market.
Illustration (Credit: Pixabay)
Perhaps, you are now wondering what is the meaning of Shiba Inu that is being talked about because of Elon Musk's tweet. However, this kind of story is not the first time it has happened. Perhaps, you also still remember when he made tweets about Dogecoin and Bitcoin that also caused their prices to skyrocket. Both of these crypto currencies experienced price increases shortly after Elon Musk tweeted. Yes, this not only earned Elon Musk the title of a technology entrepreneur who is rich. Thanks to his significant influence, he is also called an 'influencer'. Even a seemingly ordinary tweet can have a significant impact on the market conditions. Influencing the popularity of crypto currencies, and of course their stock prices also skyrocket. However, his contribution to the crypto currency phenomenon does not always make prices go up. He himself has caused prices to plummet. In May, Elon Musk responded to a tweet that mentioned Tesla's Bitcoin sales. Account @CryptoWhale criticized,
"Bitcoiners will slap themselves next quarter when they find out Tesla dumped the rest of their holdings. With all the hate @elonmusk gets, I wouldn't blame him...".
Elon Musk simply replied with one word, 'True' without further explanation. Shortly after, the price of Bitcoin dropped by 8 percent.
Well, KLovers, those are some answers that you can understand regarding the question of the meaning of Shiba Inu, which has been talked about by crypto players lately.
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