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Dogecoin Being Pumped By Elon Musk Again But Shiba Inu Still Lead The Way Far Away.

While the cryptocurrency market as a whole has entered a period of severe consolidation, meme crypto has not. After Elon Musk referred to Dogecoin as the cryptocurrency of the people, the cryptocurrency adopted a hard stance. Musk stated his support for DOGE in a recent Tweet response after referring to it as human crypto. 

Dogecoin Being Pumped By Elon Musk Again - Calls It People's Cryptocurrency.

Musk said: A lot of people I’ve talked to in production lines at Tesla or building rockets at SpaceX own Doge. They are not financial experts or Silicon Valley experts. That’s why I decided to support Doge – it sounds like people crypto.

Elon Musk revealed earlier this year, in May 2021, that Dogecoin would be accepted as payment for his next space shuttle. According to a recent analysis by Finder, the US has twice the pace of DOGE acquisition compared to the rest of the globe. According to the survey, one-third of cryptocurrency investors in the United States have invested in Dogecoin rather than Bitcoin (BTC) or Ethereum (ETH).

Elon Musk has been a staunch supporter of Dogecoin (DOGE) and has shown great interest in supporting Dogecoin’s ecosystem. When Dogecoin merged a few weeks ago, Shiba Inu (SHIB) led the way.

Dogecoin Being Pumped By Elon Musk Again - Calls It People's Cryptocurrency.

Last month, Shiba Inu (SHIB) rose more than 500% when it hit the $ 0.000042 high on Sunday, October 24. As of news time, it is trading close to its ATH levels.

Elon Musk was asked if he owned SHIB by a Twitter user, and Musk responded that he only owned Dogecoin and other meme cryptocurrencies. The crowd sentiment for Shiba Inu is currently negative, according to on-chain data provider Santiment, although the meme cryptocurrency has always met when happiness is cool.

Meme cryptocurrencies that integrate DOGE and SHIB have come together extensively this year offering many benefits to investors. It will be interesting to see if SHIB joins DOGE in the top ten crypto lists that will continue.

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