SHIB plummets 20% as Elon Musk reveals he owns none
SHIB quickly crashed 20% as Tesla CEO and dog-token proselytizer Elon Musk announced he owns none of the canine-themed coins. Shiba Inu (SHIB), the recently surging Dogecoin-inspired ERC-20 coin, suffered a 20% retracement in two hours as Tesla founder and hypothetical DOGE CEO Elon Musk announced to Twitter that he doesn’t hold any Shiba Inu tokens. The retracement came after SHIB surged past its previous all-time high to tag a local top of $0.000044 on Sunday following a more-than-500% rally since the start of October.
Amid the token’s bullish price action, Twitter user ShibaInuHodler asked Musk how much SHIB he was holding, to which Musk responded, “None.”
While SHIB sellers had already stepped in to take profits at the token’s local all-time high, SHIB would quickly lose a further 10% to trade for $0.000035 within roughly half an hour of Musk’s reply. SHIB has since been oscillating between $0.000035 and $0.00004. Reactions to Musk’s comments from SHIB investors have been varied, with ShibaInuHodler suggesting Musk should invest in some Shiba Inu tokens.
Others criticized ShibaInuHodler for engaging Musk, with Shibalaskan imploring them to “plz stop pestering celebrities when the community is doing fine without this sort of foolishness.” The dog token drama comes as Musk has returned to Twitter to espouse the virtues of Dogecoin (DOGE).
On Sunday, the SpaceX founder tweeted, “Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own Doge. They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge – it felt like the people’s crypto.”
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 83.6% | 20 | $102 116.70 | 2.37% | 2.70% | $2 021 460 092 616 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 69.2% | 63 | $3 912.07 | -0.47% | -2.02% | $471 196 373 885 |  |
|
| 3 |  XRP |
XRP predictions | 60.4% | 90 | $2.47 | 4.87% | 1.99% | $141 138 189 110 |  |
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| 4 |  USDT |
Tether predictions | 91.2% | 1 | $0.999982 | -0.02% | -0.14% | $140 131 177 908 |  |
|
| 5 |  SOL |
Solana predictions | 77.6% | 34 | $226.15 | -0.64% | -3.94% | $108 332 233 027 |  |
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| 6 |  BNB |
Binance Coin predictions | 72.4% | 60 | $731.00 | 3.05% | -0.78% | $105 270 636 457 |  |
|
| 7 |  DOGE |
Dogecoin predictions | 77.6% | 45 | $0.409827 | 0.40% | -5.76% | $60 323 093 648 |  |
|
| 8 |  USDC |
USD Coin predictions | 94% | 1 | $0.999894 | -0.01% | 0% | $41 988 368 670 |  |
|
| 9 |  ADA |
Cardano predictions | 62.8% | 74 | $1.12 | 0.68% | -7.21% | $39 228 078 149 |  |
|
| 10 |  TRX |
TRON predictions | 57.6% | 93 | $0.291593 | -0.47% | -10.06% | $25 148 527 188 |  |
|
| 11 |  AVAX |
Avalanche predictions | 68.8% | 65 | $52.60 | 0.18% | 1.15% | $21 549 114 067 |  |
|
| 12 |  LINK |
Chainlink predictions | 59.6% | 87 | $29.49 | -1.95% | 10.35% | $18 486 768 963 |  |
|
| 13 |  SHIB |
SHIBA INU predictions | 69.6% | 68 | $0.000029 | 2.06% | -6.65% | $16 885 125 234 |  |
|
| 14 |  TON |
Toncoin predictions | 69.2% | 69 | $6.32 | -1.03% | -7.04% | $16 112 935 640 |  |
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| 15 |  DOT |
Polkadot predictions | 60.4% | 78 | $9.03 | -1.14% | -14.24% | $13 803 585 859 |  |
