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 | 59.2% | 82 | $28 487.09 | 0.01% | 3.89% | $550 783 645 841 |  |
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|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 70% | 61 | $1 820.99 | -0.18% | 5.05% | $219 352 245 827 |  |
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| 3 |  USDT |
Tether predictions | 96% | 1 | $1.000239 | 0.01% | -0.05% | $79 712 905 402 |  |
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| 4 |  BNB |
Binance Coin predictions | 72% | 56 | $314.97 | -0.48% | -2.32% | $49 729 339 998 |  |
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| 5 |  USDC |
USD Coin predictions | 93.6% | 2 | $0.999867 | -0.01% | 0.02% | $32 523 102 126 |  |
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| 6 |  XRP |
XRP predictions | 61.2% | 85 | $0.510598 | -5.60% | 12.92% | $26 386 760 233 |  |
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| 7 |  HEX |
HEX predictions | 63.6% | 71 | $0.080735 | -10.29% | -1.04% | $14 000 412 504 |  |
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| 8 |  ADA |
Cardano predictions | 75.2% | 41 | $0.394316 | -2.49% | 11.93% | $13 699 582 029 |  |
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| 9 |  DOGE |
Dogecoin predictions | 82% | 24 | $0.081597 | 6.61% | 10.72% | $11 322 736 681 |  |
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| 10 |  STETH |
Lido stETH predictions | 94.4% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
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| 11 |  MATIC |
Polygon predictions | 84% | 30 | $1.11 | -0.96% | 3.56% | $10 066 655 550 |  |
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| 12 |  SOL |
Solana predictions | 81.2% | 37 | $21.07 | 0.33% | 3.84% | $8 124 049 462 |  |
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| 13 |  BUSD |
Binance USD predictions | 90.8% | 1 | $0.999622 | -0.02% | 0% | $7 554 331 620 |  |
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| 14 |  DOT |
Polkadot predictions | 82.8% | 27 | $6.31 | -0.28% | 7.11% | $7 392 861 993 |  |
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| 15 |  WTRX |
Wrapped TRON predictions | 87.6% | 22 | $0.066664 | 0.88% | 5.86% | $6 778 146 401 |  |
