Shiba Inu (SHIB) coin sank after one word from Elon Musk

If there’s anybody who can ship cryptocurrencies surging or sinking, it’s Elon Musk. That’s no extra evident than up to now 24 hours after Musk issued a one-word tweet that then noticed the Shiba Inu (SHIB) cryptocurrency plunge 20%.

Because the CoinTelegraph reports, a Twitter account by the title of @ShibaInuHolder requested Musk how a lot SHIB going he was holding. Musk’s single-word reply? “None.” That despatched SHIB taking place 20% within the instant timeframe after Musk’s tweet.

As of the time of this writing, SHIB has recovered a bit, down solely about 11% from yesterday’s pre-Musk tweet highs, according to Coinbase. However the truth that some cryptocurrencies could be so badly affected by a one-word tweet by Musk goes to indicate that buyers ought to take excessive warning when investing in meme cash like SHIB. You might make a killing, however you would additionally find yourself shedding the whole lot resulting from a tweet or two.