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The story about whether Elon Musk owns SHIB was really buzzing back then. People who made a fortune with DOGE were now saying, "Next is the Shiba Inu coin!" Everyone was speculating that Musk might have invested in SHIB too.
In fact, a user directly asked Musk on X, and his response was "No." That means he doesn't hold SHIB. He explicitly stated that his portfolio only includes DOGE, Bitcoin, and Ethereum. This also seemed to calm the hype around Shiba Inu coins a bit.
Looking back, during the bullish market in 2021, it was interesting how DOGE and SHIB were the two major rivals. DOGE skyrocketed from $0.002 in November 2020 to $0.73 in May 2021, gaining huge attention after Elon Musk's tweets and his SNL appearance. Meanwhile, SHIB also surged by 85 billion percent between 2020 and 2021, with investors going wild.
But learning that Musk doesn't own SHIB really made me realize again just how powerful Elon Musk's influence is.