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 | 84% | 23 | $63 410.47 | -2.59% | -0.65% | $1 248 557 013 815 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 74.8% | 51 | $3 120.72 | -2.68% | 1.15% | $380 877 750 784 |  |
|
| 3 |  USDT |
Tether predictions | 93.6% | 1 | $0.999885 | 0.01% | -0.07% | $110 450 849 164 |  |
|
| 4 |  BNB |
Binance Coin predictions | 83.2% | 20 | $608.07 | 0.95% | 9.84% | $89 744 016 067 |  |
|
| 5 |  SOL |
Solana predictions | 66% | 71 | $145.12 | -6.17% | 4.33% | $64 872 377 584 |  |
|
| 6 |  USDC |
USD Coin predictions | 92% | 2 | $1.000341 | 0.05% | 0.03% | $33 434 750 637 |  |
|
| 7 |  XRP |
XRP predictions | 68% | 62 | $0.520062 | -1.78% | 3.27% | $28 670 596 056 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 69.2% | 60 | $0.149912 | -3.43% | -0.70% | $21 591 876 469 |  |
|
| 9 |  TON |
Toncoin predictions | 66.4% | 66 | $5.27 | -5.12% | -15.36% | $18 315 801 013 |  |
|
| 10 |  ADA |
Cardano predictions | 65.6% | 72 | $0.467771 | -3.20% | 2.32% | $16 668 498 472 |  |
|
| 11 |  SHIB |
SHIBA INU predictions | 60% | 82 | $0.000025 | -3.09% | 10.56% | $14 820 630 608 |  |
|
| 12 |  AVAX |
Avalanche predictions | 67.2% | 68 | $35.19 | -6.23% | 0.17% | $13 301 713 384 |  |
|
| 13 |  STETH |
Lido stETH predictions | 90.8% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 14 |  TRX |
TRON predictions | 84% | 21 | $0.115898 | 2.21% | 6.06% | $10 149 435 135 |  |
|
| 15 |  WTRX |
Wrapped TRON predictions | 84% | 19 | $0.115757 | 2.07% | 6.02% | $10 137 072 362 |  |
