Elon Musk’s relationship with Shiba Inu (SHIB) coin is often linked to his previous involvement with Dogecoin (DOGE), another meme-inspired cryptocurrency featuring a Shiba Inu dog as its mascot.
While Musk has been a vocal supporter of Dogecoin, even calling it “the people’s currency”, he has publicly stated that he does not own Shiba Inu tokens. [According to Binance] , he confirmed this in a tweet where he replied “None” to a user who asked him how much SHIB he held. He further clarified that he only holds Dogecoin, Bitcoin, and Ethereum in his portfolio.
Despite his denial of owning SHIB, Musk’s tweets mentioning his Shiba Inu dog “Floki” have sometimes triggered price surges in SHIB and other dog-themed cryptocurrencies due to speculation and market sentiment.
It’s important to differentiate between Dogecoin and Shiba Inu. Dogecoin is a standalone blockchain, while Shiba Inu is an ERC-20 token built on the Ethereum blockchain. This means that SHIB utilizes Ethereum’s security and smart contract capabilities.
Does Elon Musk own the Shiba Inu coin?
Floki Inu (FLOKI) – FLOKI is a cryptocurrency inspired by Musk’s pet Shiba Inu (also named Floki) — though the project has not been endorsed by Musk. In the past, Musk has publicly said that he does not own FLOKI.
Who owns the most Shiba Inu coins?
Great question! The largest holder of Shiba Inu is a dead wallet containing 41% of the SHIB supply, a result of a burn by Ethereum co-founder Vitalik Buterin. An anonymous investor is the second-largest holder with 48 trillion SHIB, about 8% of total circulation.