Shiba inu crypto falls after Musk says he doesn’t own the digital token

Cryptocurrency Shiba Inu came off record highs after Tesla CEO Elon Musk said he didn’t own any of the digital coin.

Musk was asked on Twitter how much Shiba Inu he holds and replied “None.”

“Out of curiosity, I acquired some ascii hash strings called ‘Bitcoin, Ethereum & Doge’. That’s it,” the Tesla CEO said in a follow-up tweet.

“As I’ve said before, don’t bet the farm on crypto! True value is building products & providing services to your fellow human beings, not money in any form.”

Shiba Inu, known also as SHIB, has fallen over the past 24 hours by 1% to $0.00003849, according to CoinGecko. It reached an all-time high of $0.000044 on 24 October.

Dogecoin has risen about 7.6% over the past 24 hours.

READ Here’s how shiba inu became the world’s 12th largest crypto

Shiba Inu was listed on CoinGecko as the 11th-biggest cryptocurrency by market value. Its market cap is about $19.14 billion.

The cryptocurrency soared over the weekend following a push to get it listed in the Robinhood platform.

Write to Joe Woelfel at joseph.woelfel@bar

This article was published by Dow Jones Newswires

This news is republished from another source. You can check the original article here.

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