SHIB Coin: Shiba Inu is on fire after Elon Musk tweet

Elon Musk once again proved to be the real go-getter. On Monday, Musk again tweeted a photo of his little Shiba Inu Pup named Floki. He mentioned in his tweet Floki Frunkpuppy, which impacts the SHIB Coin, and as a result, the token price rose suddenly.

The SHIB coin (SHIBA) token is trading at $0.00001264 on Tuesday, and its market cap has risen by 49% since Monday to stand at $4,987,163,972. As a result, the market cap of Shiba Inu has reached a new high, with the token trading at $5.22 billion.

Read: Shiba Inu Price Prediction: Will Shiba Token rise again?

Just like usual, once again, the Elon Musk tweet skyrockets your favourite cryptocurrency. One of his most recent tweets is what sent Shiba into overdrive and caused prices for SHIB coins to go up 770% in the last day.

As the value of Shiba Inu tokens skyrocketed, other memes like husky and shibacash witnessed a massive surge in popularity. Other tokenized breeds also saw dramatic increases with Akita Inu, Baby Doug Doggy Kishu Inu, and Pitbulls increased between 15 – 35%.

Read: How to buy Shiba Inu Coin

SHIB Coin Price Prediction

Experts have predicted that the SHIB Coin will likely go up in value, but only a little bit. They say it could reach about $0.000018 within one year. Experts suggest that it’s not healthy to invest without any significant reason for the surge in prices.

The crypto market is still in its infancy, so it’s no surprise that we are seeing big names like Elon Musk investing. This hasn’t been a good indication of which coins will succeed, though – Arora says investors should be cautious until there’s something substantial behind these one-time wonders and not just excite from people with little knowledge or experience trading cryptocurrencies at all.

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