Twitter owner Elon Musk has increased the price of Dogecoin and Shiba Inu after he announced a new Twitter CEO. The Twitter CEO, which the billionaire revealed, wasn't a human. Rather it was a furry animal deemed worthy of leading the social media platform. According to Elon Musk, the furry animal could lead Twitter to new greatness and was "good with numbers."
In a new tweet, Elon Musk shared a picture of a Shiba Inu dog sitting in an office with papers spread all over the table. Apparently, this was a joke from the billionaire who is still looking for a reliable CEO to take over the platform.
However, this joke has increased the price of cryptocurrencies affiliated with the Shiba Inu dog. Dogecoin, upon Elon Musk's announcement, increased by more than 6%, Shiba Inu's price increased by about 4.3%, and Floki was the one that increased by more than 39%. Within 24 hours, the Dogecoin price has reduced slightly, but it further shows Elon Musk's influence on the crypto industry.
In a follow-up tweet, Elon Musk looked at the former CEO of the platform by saying that the Shiba Inu dog he presented earlier was a much better CEO. Elon Musk said in the tweet, "So much better than that other guy." Some of the people who joined in the conversation were Dogecoin creator Billy Markus who replied to the billionaire, saying, "I guess he was the only one crazy enough to take the job."
After the first tweet, Elon Musk made other separate tweets where he further emphasized how sophisticated the new Twitter CEO is. Another tweet showed a picture of the Shiba Inu dog with a balance sheet, saying," He’s great with numbers!" Another picture of the dog was shared wearing an outfit similar to that of Steve jobs.
Elon Musk's tweets have generated much interest as many people noted his sense of humor. Others, such as crypto traders, were more interested in the tweet's influence over Shiba Inu dog-inspired cryptocurrencies.
Dogecoin and Shiba Inu price Soar Over Elon Musk Tweets
Immediately after Elon Musk made the tweet about the Shiba Inu dog, the price of several cryptocurrencies surged in reaction to the tweet. In the past, Elon Musk's tweets and actions have affected Dogecoin prices and other cryptocurrencies.
Last year when Elon Musk was finalizing the steps to purchase Twitter, the price of Dogecoin had increased by more than 30%. There have also been similar instances where the price of Dogecoin increased due to Elon Musk's words and actions.
Although Dogecoin is the primary crypto that Elon Musk has affiliated with, several other dog-cryptos, such as Floki and Shiba Inu, also increased. Although the price of Dogecoin has reduced a bit, experts have noted that any other tweet or action by Elon Musk might send the crypto to the moon.
Since Floki was specifically mentioned in Elon Musk's tweet, the price has been Pumping. The price of Dogecoin has reduced, but Floki is still soaring by more than 40% at the time of writing.