Tesla Partnership With Shiba Inu Coin And Price will Skyrocket To $0.01!!
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Shiba has become one of the top 20 coins by market value and has tripled since its start of October. Along with rising interest for the past few months, Elon Musk is the “blame” for this coin to have gone parabolic. With the upside momentum picking up pace after the break of its resistance, the coin has seen the biggest spike yet since May.
Although the Tesla C.E.O did not outrightly label the photo with SHibaInu, the meme coin has skyrocketed leaving Dogecoin advocates questioning what had just transpired.
Despite Musk’s past experiencing harsh criticism from the crypto community, he appears to be back, this time with even more clandestine pump schemes. His price-pumps came into the spotlight earlier this year after he stated that he had bought Bitcoin in February right in the $40,000 starting a pump that pushed prices to new highs.
After these manipulation schemes, exchange heads such as CZ had approached the Tesla manager to be more responsible when talking about cryptocurrencies given the power he has in this field.
Despite people trying to stop Elon, there is more to come of his manipulation in this “Uptober”. Interestingly, a sharp eye on Elon’s statements does not fail to mark that most of his “pump” calls are not sudden but strategic. Right when he purchased $1.5B worth of Bitcoin in February, the price was battling to cut the $40,700 resistance. Following his announcement, price pumped hard slicing through that ceiling and putting a great run to an all-time high of $64,854.
Shiba-Inu’s pump isn’t any different. The crypto asset’s price had been struggling to break and close above the $0.000009 resistance for over five months since May’s drop. Elon Musk’s tweet moved that bearish pressure as price broke through this resistance to reach $0.000024. With the bull cycle suspected to continue this October across major cryptocurrencies, expect more from the Dogefather.
While it stays unclear how far the Shiba Inu rally would go, investors loading up exclusively due to Musk’s endorsement ought to remain alert of his temperamental momentum-igniting tweets.
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