Elon Musk, the billionaire tech mogul, recently showed some love to Shiba Inu. However, it is not the Shiba Inu you expect. His recent post on X about his love for dogs sparked a frenzy within the dog-themed cryptocurrency community, as he shared an adorable photo featuring various dog breeds, including a prominent Shiba Inu.
This seemingly innocuous act sent shockwaves through the Shiba Inu, Floki Inu, and Dogecoin communities, igniting speculation about potential investment signals.
I love puppies pic.twitter.com/IalJYhayec
— Elon Musk (@elonmusk) February 11, 2024
A Longstanding Canine Connection
Musk’s affection for Shiba Inu dogs is well-documented. He openly expressed his desire for a Shiba puppy in May 2021, further amplifying the interest in June when he proclaimed, “I’m getting a Shiba Inu.” However, the Shiba Inu community’s excitement was short-lived when it became clear Musk referred to the actual dog breed, not the cryptocurrency.
This distinction was further emphasized when a community member inquired about his SHIB token holdings. Musk responded by saying he didn’t hold any SHIB, adding that his cryptocurrency portfolio solely consists of Bitcoin, Ethereum, and Dogecoin.
Musk’s love for Dogecoin is clear, as his attention was the driving force behind DOGE’s rise to prominence in the crypto market.
Despite his love for the Shiba Inu dog, Musk has remained hesitant to embrace the associated cryptocurrency. While his reasoning remains undisclosed, it hasn’t deterred the Shiba Inu community from persistent efforts to woo him into the fold. Whether Musk will succumb to their pleas and invest in SHIB remains an open question.
His disinterest has not stopped the SHIB community from getting excited by what they see as hints from the billionaire. This excitement also extends to Elon-adjacent products, as recent revelations from Grok, Elon Musk’s AI-powered chatbot, caused a stir in the Shiba Inu community.
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Shiba Inu’s Current State and Potential Future
Despite currently falling short of bullish expectations, Shiba Inu continues to garner significant interest as its 24-hour trading volume is up 14.04%.
Despite its failure to stay above the crucial $0.00001 resistance level, enthusiasts remain optimistic about the token’s potential to reach unprecedented heights. SHIB is currently trading at $0.000009393, down 0.45% over the last 24 hours.
Adding fuel to the fire, Telegaon, a cryptocurrency analysis platform, recently issued a bold prediction that SHIB could surge to a staggering $0.05 by 2040. If SHIB can reach this spectacular target, it could attract several notable attention, including Elon Musk.