At times, one tweet is all that it takes to scale up a newbie coin from an almost unknown entity to the talk of the crypto tinseltown. Take for example, the recently launched Shiba Inu Coin (SHIB). Launched in August 2020, the token didn’t really have a great start. But cut to June 25, 2021, and suddenly everyone wants to know about it. So, what really changed in between? Well, the catalyst here is one quirky tweet from the iconic Elon Musk that catapulted SHIB’s price to a whopping 25% high almost overnight. 

Elon Musk’s June tweet on Shiba Inu

The tweet in question goes like- “My Shiba Inu will be named Floki.”

Well, Musk was probably referring to the Shiba Inu dog breed but the very mention of the name worked wonders for the canine breed’s namesake token. The tweet has received over 300,000 likes as of now. 

Elon has always been vocal about his support for cryptocoins and the mention of “Shiba Inu” in his tweet has been largely interpreted as his new-found love for the new SHIB token as well. And if the legendary man vouches for a new coin on an open public forum, it’s sure to bring enormous traction for the token. Well, what can we say here? Shiba Inu is a lucky Token.

On a serious note, Shiba Inu’s rise following Musk’s tweet signifies just one comment or remark by billionaires who can manipulate the crypto market big time.

Shiba Inu looks promising

An emerging meme token like Dogecoin, Shiba inu is based on Ethereum network. Currently, the token is the 31st biggest cryptocurrency in terms of market capitalization- not a small feat for a token released less than a year back. We are looking forward to a bright future for Shiba Inu.

So, if you ask me whether it would be wise to invest in SHIB, I would ask you to certainly give it a shot. A major reason behind it is that the token is  commanding increasing popularity with each passing day. It has garnered a huge thriving fanbase and SHIB is one of the hottest topics of discussion currently among social network influencers, meme-makers and in global chat rooms. And, this continued hype around the token would soon catapult its prices to newer heights.

Also, the entry-price is really low for Shiba Inu investors. It won’t take more than what you spend in buying a fast-food meal and in return you can expect a rewarding ROI in at least 3 years down the line.

Then, a bunch of major companies have already shown interest in SHIB, such as GrupoCinco (the biggest entertainment group in Paraguay) and Changelly. Not only that, top exchanges like the iconic Coinbase Pro have already enlisted the new token in its exchange. Moments after Coinbase Pro made the announcement on listing SHIB, the coin’s price spiked up to over 37% almost immediately. As of now, the token has grabbed listings in several other top exchanges, such as KuCoin, Probit Global, WazirX, Binance, and more.

Interestingly, the Shiba Inu coin group has developed its own DEX exchange as well which is another portal where you can trade the SHIB token. Shibaswap, as it is called, is the next-gen DeFi platform that comes with a state-of-the-art passive income reward system.