- Dogecoin’s Simplicity and Origins: Musk sees Dogecoin as the ‘people’s crypto,’ born from internet humor and embodying a less serious, more approachable entry point into the crypto world. He contrasts this with Shiba Inu, which emerged later, aiming to be a ‘Dogecoin killer.’
- Focus on Improvement: Musk isn’t just a Dogecoin holder; he’s actively involved in its development. He’s working with the Dogecoin Foundation to enhance its technology, focusing on speed, lower transaction fees, and scalability. His vision is for Dogecoin to be a globally viable medium of exchange – think fast, cheap, and easy for everyone.
- Strategic Alliance with Dogecoin Foundation: The connection between Musk and Dogecoin goes beyond tweets. A key associate of Musk was appointed to the Dogecoin Foundation’s board of advisors. This move signals a deeper, more strategic partnership aimed at driving Dogecoin’s growth and adoption.
“The People’s Crypto”: Musk’s Connection to Doge Holders
Musk’s affinity for Dogecoin isn’t just about memes or technology; it’s also about the community. He highlighted that many of his employees at Tesla and SpaceX, the people on the production lines and building rockets, are Dogecoin holders. This resonated deeply with him. He sees Dogecoin as a cryptocurrency embraced by everyday people, not just “financial experts or Silicon Valley technologists.”
— Elon Musk (@elonmusk) October 24, 2021
“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.”
Shiba Inu Community Reacts: The “Musk Effect” and Market Sentiment
However, Musk’s candid admission didn’t land well with everyone, particularly within the Shiba Inu community. Many SHIB holders have experienced the “Musk effect” firsthand – the significant price fluctuations often triggered by Musk’s tweets and pronouncements. Some felt that asking Musk about Shiba Inu, even indirectly, and his subsequent response, negatively impacted SHIB’s price momentum.
SHIB Army Tweets: A Snapshot of Disappointment
Here’s a glimpse into the reactions from some Shiba Inu community members on Twitter:
Also, “I hope you’ve learned to never ask Musk again…”
“From ATH to almost no increase in a few hours time…”
“We came all this way without him just for you to get greedy. ? “— jbraden (@jbraden59481456) October 24, 2021
Additionally, “Way to poke someone and screw up the gains that were just made…”
“Hoping for a positive reply to help boost prices shows you want Elon’s support…”
“Don’t worry about it as it was doing just fine without it…”
“Now his influence just helped drop the price. “ — Keith Greenwood (@keithgreenwood) October 24, 2021
Futhermore, “Did you have to ask this question? Shiba had already succeeded without Elon and Robin Hood…”
“We came to this situation because of a stupid question. ??????”
— Hülagü Khan ?? (@Hulagukhan0) October 24, 2021
Lastly, “We need to stop asking this man questions lmbo…”
“No need to reaffirm what Shiba Army controls. We can’t let another man control our future…”
We took a dip after his answer….”
— IronLuxxTrader (@PeterGSanchez1) October 24, 2021
Doge Resilience: A Post-Drama Rise?
Interestingly, despite the minor market turbulence following Musk’s Shiba Inu clarification, Dogecoin showed resilience. In fact, DOGE experienced a price increase after this “drama.” This could suggest that Dogecoin’s value is becoming less reliant on fleeting hype and more on its own community and development efforts, aligning with Musk’s vision of a robust and practical cryptocurrency.
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Photo credit – BitcoinNews
The crypto world is buzzing, and once again, Elon Musk is at the center of the conversation! We all know Elon loves his memes, especially the Shiba Inu dog breed. He even has a Shiba Inu puppy named Floki! And yes, he’s made his fair share of Shiba Inu jokes online, fueling speculation about his crypto preferences. But, here’s the scoop straight from the Dogefather himself: Elon Musk does not hodl Shiba Inu (SHIB).
In a recent exchange on Crypto Twitter, responding directly to Shiba Inu accounts, Elon Musk definitively stated that his crypto portfolio is limited to Bitcoin (BTC), Ethereum (ETH), and of course, his beloved Dogecoin (DOGE). Let’s dive into what this means for the meme coin market and the passionate communities behind DOGE and SHIB.
Elon Musk Clears the Air: It’s Doge Over Shib
For those in the SHIB Army hoping for a Musk endorsement, this news might sting a little. While he playfully engages with the Shiba Inu theme, his investment strategy remains firmly rooted in Dogecoin. Why Dogecoin, you ask? Musk has consistently voiced his preference for the original meme coin, emphasizing its potential to become a truly accessible and functional cryptocurrency for everyday transactions.
- Dogecoin’s Simplicity and Origins: Musk sees Dogecoin as the ‘people’s crypto,’ born from internet humor and embodying a less serious, more approachable entry point into the crypto world. He contrasts this with Shiba Inu, which emerged later, aiming to be a ‘Dogecoin killer.’
- Focus on Improvement: Musk isn’t just a Dogecoin holder; he’s actively involved in its development. He’s working with the Dogecoin Foundation to enhance its technology, focusing on speed, lower transaction fees, and scalability. His vision is for Dogecoin to be a globally viable medium of exchange – think fast, cheap, and easy for everyone.
- Strategic Alliance with Dogecoin Foundation: The connection between Musk and Dogecoin goes beyond tweets. A key associate of Musk was appointed to the Dogecoin Foundation’s board of advisors. This move signals a deeper, more strategic partnership aimed at driving Dogecoin’s growth and adoption.
“The People’s Crypto”: Musk’s Connection to Doge Holders
Musk’s affinity for Dogecoin isn’t just about memes or technology; it’s also about the community. He highlighted that many of his employees at Tesla and SpaceX, the people on the production lines and building rockets, are Dogecoin holders. This resonated deeply with him. He sees Dogecoin as a cryptocurrency embraced by everyday people, not just “financial experts or Silicon Valley technologists.”
— Elon Musk (@elonmusk) October 24, 2021
“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.”
Shiba Inu Community Reacts: The “Musk Effect” and Market Sentiment
However, Musk’s candid admission didn’t land well with everyone, particularly within the Shiba Inu community. Many SHIB holders have experienced the “Musk effect” firsthand – the significant price fluctuations often triggered by Musk’s tweets and pronouncements. Some felt that asking Musk about Shiba Inu, even indirectly, and his subsequent response, negatively impacted SHIB’s price momentum.
SHIB Army Tweets: A Snapshot of Disappointment
Here’s a glimpse into the reactions from some Shiba Inu community members on Twitter:
Also, “I hope you’ve learned to never ask Musk again…”
“From ATH to almost no increase in a few hours time…”
“We came all this way without him just for you to get greedy. ? “— jbraden (@jbraden59481456) October 24, 2021
Additionally, “Way to poke someone and screw up the gains that were just made…”
“Hoping for a positive reply to help boost prices shows you want Elon’s support…”
“Don’t worry about it as it was doing just fine without it…”
“Now his influence just helped drop the price. “ — Keith Greenwood (@keithgreenwood) October 24, 2021
Futhermore, “Did you have to ask this question? Shiba had already succeeded without Elon and Robin Hood…”
“We came to this situation because of a stupid question. ??????”
— Hülagü Khan ?? (@Hulagukhan0) October 24, 2021
Lastly, “We need to stop asking this man questions lmbo…”
“No need to reaffirm what Shiba Army controls. We can’t let another man control our future…”
We took a dip after his answer….”
— IronLuxxTrader (@PeterGSanchez1) October 24, 2021
Doge Resilience: A Post-Drama Rise?
Interestingly, despite the minor market turbulence following Musk’s Shiba Inu clarification, Dogecoin showed resilience. In fact, DOGE experienced a price increase after this “drama.” This could suggest that Dogecoin’s value is becoming less reliant on fleeting hype and more on its own community and development efforts, aligning with Musk’s vision of a robust and practical cryptocurrency.
Related Posts- Bitcoin Follows The Price Path Of A Surge Altcoin With Over…
Photo credit – BitcoinNews
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