Elon Musk, the founder of Tesla, has sparked another exponential rally in a dog-related cryptocurrency, but this time around, the controversial Dogecoin (DOGE) isn’t the one involved.
In a new tweet, the billionaire entrepreneur announced he was getting a Shiba Inu dog, adding that “resistance is futile”.
I get a Shiba Inu #resistanceisfutile
– Elon Musk (@elonmusk) March 14, 2021
Shiba Inu is the Japanese breed of dog used as the face of Dogecoin (DOGE), a crypto asset that historically has pumped whenever Musk tweets about it.
This time around, however, Shiba Inu (SHIB) appears to have benefited much more than DOGE from Musk’s recent antics. Following Musk’s tweet, SHIB, the crypto-asset that bills itself as a “decentralized experiment,” soared from a low of $ 0.00000002 on March 14 to its all-time high of $ 0.00000011 on March 15, which is what one Growth of 450% in approximately 24 hours.
It’s unclear if Musk was talking about DOGE, SHIB, or if he just meant he was going to get a new dog. Regardless, the SpaceX founder repeatedly published DOGE-related tweets that sparked the flames of the hype about investing joke coins.
“Doge Day Afternoon … Origin of Doge Day Afternoon: The ancient Romans sacrificed a Dogecoin at the start of Doge Days to appease Sirius’ anger because they believed the star was the cause of the hot, humid weather. “
Last month, Elon Musk said he would give DOGE his full support when whales owning the meme-based crypto asset are ready to sell most of their coins. The billionaire investor went further, saying he would pay actual dollars if crypto whales void their accounts.
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