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

by Mike Robinson

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© Reuters

By Samuel Indyk

Investing.com – Tesla (NASDAQ:) CEO Elon Musk has again been active on Twitter (NYSE:) 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 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.”

Dogecoin’s price was $0.266581 at 10:20 BST.

Musk holdings – Inu left out

One Twitter user also asked Elon Musk how much he had. After posting a photo of his Shiba Inu puppy, speculation was high that Musk had the coin. Musk clarified that he doesn’t own the coin.

Shiba Inu, which has experienced a 450% increase in its value during October, has been one the most popular cryptocurrencies. This is due to it being a preferred choice of social media traders.

The coin was trading above 0.00004 on the weekend but it has since fallen below this level.

Elon Musk also reiterated in a tweet that he holds Doge and, 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.

Please use this link to see the latest prices on Bitcoin, Ethereum Doge Shiba Inu and other cryptocurrency:

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

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