04 October 2021

Shiba inu coin jumped 30% and 'deleted a zero' after a tweet from Elon Musk.

The dogecoin spinoff known as shiba inu jumped 30% after Tesla Chief Executive Officer Elon Musk tweeted another picture of his pup late Sunday 03 October 2021.

Musk's dog, named Floki, is a shiba inu, which is the namesake of the coin and the iconic dog behind dogecoin. On Sept. 12, Musk first tweeted a picture of his shiba inu, saying "Floki has arrived."

The latest tweet caused the hashtag #SHIB to start trending on Twitter as retail traders cheered the price surge. The shiba inu coin, which was founded in August 2020 as an Ethereum-based alternative to Dogecoin, surged in comments on 4chan Monday as well, data from TopStonks.com showed.

On Twitter, many noted that the coin deleted a zero from its decimal. Even so, the coin is still worth less than a penny despite the jump, which took it to 0.00001090 cents. In the past year, the shiba inu coin has surged about 8,000% in a year, according to data from Coinbase.com.

Source: https://markets.businessinsider.com

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