Elon Musk, the tech mogul behind Tesla, SpaceX, and current owner of X, has once again sent ripples across the cryptocurrency world on his social platform. This time, the XRP and Shiba Inu (SHIB) communities reacted quickly to what they saw as a reference to their beloved cryptocurrencies from Musk.
In a recent post, Musk wrote the phrase, “In X S.” What X denotes is no longer news. As is often the case, XRP enthusiasts immediately drew a connection between the “X” and XRP, and Shiba Inu supporters took the “S” to represent SHIB.
In 𝕏 XRP 👀
— XRPcryptowolf (@XRPcryptowolf) October 18, 2023
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Vet Kusama (@vetkusama), a member of the Shiba Inu community and team, went a step further, suggesting that Musk’s post might signify “In X Shi.”
In 𝕏 Shi ❤️
— Vet KUSAMA ™ (@vetkusama) October 18, 2023
This interpretation relates to the development of the new stablecoin known as “SHI,” which is currently in progress within the Shiba Inu ecosystem alongside other tokens like SHIB, BONE, LEASH, and TREAT.
Not to be confused with the already released Shina Token (SHI), the SHI stablecoin is still being worked on and will be a decentralized stablecoin focused on protecting digital identity. This stablecoin is different from the recently released PYUSD, PayPal’s stablecoin, which is considered centralized, with the company having the ability to freeze users’ funds when they choose.
Elon Musk and the Crypto Community
Musk’s tweets are known for sparking intense speculation and debate in the crypto community. In September, he got the XRP community’s attention with a video he posted on X. This time was no different, with numerous users attempting to decipher the meaning behind “In X S.”
Elon Musk’s influence in the cryptocurrency space cannot be overstated. When he posts, it often results in a surge of interest and enthusiasm.
Read Also: Tesla CEO Elon Musk Called Out For XRP Account Suspension
XRP enthusiasts, who have previously experienced both highs and lows due to Musk’s posts, were once again quick to respond, eagerly connecting the “X” to XRP. There was a similar occurrence early this month, where Musk got the attention of the XRP community because the new X logo looks similar to the XRP logo.
The Shiba Inu community reacted similarly, with its members linking the S to their upcoming stablecoin. Users flooded the comments section, eager to share their interpretations and seek clarification from the billionaire entrepreneur. Yet, the true meaning behind “In X S” remains a mystery, leaving the community anticipating any further clues.
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