Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Shiba Inu and Dogecoin in focus as Elon Musk tweets about the industry

CryptocurrencyOct 25, 2021 12:42
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters

By Samuel Indyk

Investing.com – Tesla (NASDAQ:TSLA) CEO Elon Musk has again been active on Twitter (NYSE:TWTR) talking about his cryptocurrency holdings.

Musk’s tweets have been known to move individual coins and the general market in both directions and his comments this morning are no exception.

Dogecoin – The People’s Crypto

Replying to a crypto-YouTuber named @ProTheDoge, Elon Musk referred to Dogecoin as the “people’s crypto”.

“Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own Doge,” Musk Tweeted. “They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge – it felt like the people’s crypto.”

As of 10:20BST, the price of Dogecoin was up 8% to $0.266581.

Musk holdings – Shiba Inu left out

Elon Musk was also asked by one Twitter user how much Shiba Inu he was holding. Speculation was rife that Musk held the coin after tweeting a picture of his puppy, a Shiba Inu breed, a couple of weeks ago. However, Musk confirmed that he does not own any of the dog-based coin.

Shiba Inu has been one of the best performing cryptocurrencies during the month of October, rising almost 450% as it has become a favourite of the social media traders that boosted the price of Dogecoin earlier in the year.

Over the weekend, the coin traded above 0.00004 for the first time but has retreated below that level for now.

In a separate tweet, Elon Musk reiterated that he still holds Bitcoin, Ethereum, and Doge. However, Musk was quick to caution that investors should not “bet the farm” on cryptocurrencies as true value is from building products and providing services to your fellow human beings.

To check the prices of Bitcoin, Ethereum, Doge, Shiba Inu, and other cryptocurrencies, please use the link below:

https://uk.investing.com/crypto/currencies

Shiba Inu and Dogecoin in focus as Elon Musk tweets about the industry
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email