Shib Army buys the dip after Elon Musk’s tweet, as meme coin closes in on crypto top 10
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Not even an Elon Musk tweet can hold the Shib Army back for long.
Shiba Inu coin dropped overnight after the eccentric billionaire tweeted he wasn’t holding any — but the meme coin has been recovering nicely this morning.
— Elon Musk (@elonmusk) October 24, 2021
Shib, which hours ago had set an all-time high of US0.004432c, plunged 24 per cent to as low as US0.003289c after Musk’s tweet, so many weren’t happy with the anonymous community member who had asked Musk the question.
“Lost a cool 30k because this guy thought it was smart to poke a bear,” tweeted Chris.
“don’t own crypto but friends that have shib hate you right now bro,” tweeted TJ. “I’ve gotten three texts with your tweet in them. One of my cousins lost 12k cuz of this tweet.”
But by late this morning it had rebounded to US0.003766c, up 6.4 per cent from 24 hours ago.
For the week Shib is up 39.4 per cent, while it’s gained 423 per cent in the past 30 days.
The supposed “Dogecoin killer” is now listed as the No. 13 coin on Coinmarketcap, while Coingecko puts it as No. 11.
Both lists have Dogecoin as the No. 9 crypto, with a market cap of US$36.7 billion, a little more than double Shib’s.
According to Etherscan, an astounding 773,756 wallets hold Shib tokens – far more than any other ERC-20 token aside from Tether, USDC and two tokens that were widely airdropped across the network.
Many are holding out for a Robinhood listing
— Shib Legend 🚀🌛💫 (@Shiblegend) October 24, 2021