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.
— Elon Musk (@elonmusk) October 24, 2021
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.