CandleFocus Elon Musk has forgotten about Shiba Inu?
2024-12-09
Author: Content Editor
Elon Musk's mention of getting a Shiba Inu dog on Twitter in March 2021 sparked attention towards the namesake cryptocurrency. Shiba Inu is a token created in the previous year and gained significant value following Musk's mention, reaching all-time highs in November 2021. However, the price of Shiba Inu experienced a significant decline, and Musk has not talked about it since July 2021. The price of Shiba Inu remains linked to that of Dogecoin, with both experiencing fluctuations. Despite the recent boom in the crypto market, the price of Shiba Inu has not reached the highs of March 2021. Dogecoin, on the other hand, has made significant gains but still falls below its 2021 highs. Musk has continued to promote Dogecoin and has named a new department for it. The problem with Dogecoin is that it lacks concrete development as a cryptocurrency project. Shiba Inu's layer-2 Shibarium has not made a significant impact on its price, and without Musk's publicity, it struggles to perform strongly compared to other memecoins.
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