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SHIB Not Hurt by Elon Musk's Negative Tweet, David Gokhshtein Explains Why

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Mon, 10/25/2021 - 09:38
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Yuri Molchan
Crypto influencer stresses that the recent SHIB rally has nothing to do with Elon Musk or Robinhood's potential listing
SHIB Not Hurt by Elon Musk's Negative Tweet, David Gokhshtein Explains Why
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Head of PAC Protocol David Gokhshtein has taken to Twitter to stress that the Shiba Inu (SHIB) meme currency rallied to its Sunday all-time high without Elon Musk pumping it in his tweets, and the project has not been hurt by the centibillionaire's tweet posted on Sunday.

"SHIB is not hurt by today's tweet by Elon Musk"

In his recent tweet, the CEO of PAC emphasized the fact that Shiba Inu reached Sunday's all-time high without Elon Musk pumping the meme coin.

Therefore, Gokhshtein adds, the SHIB project has not been hurt by the tweet Musk posted on Sunday, saying that he does not hold SHIB and that a crypto project should create real value by providing "goods and services to fellow human beings" and not try to make money in any form.

Gokhshtein added that had Musk tweeted in the same manner about Dogecoin, it would most likely have impacted the coin negatively, hinting that Dogecoin and its community depend on the appraisal Elon Musk gives it on Twitter.

The PAC Protocol CEO also tweeted that the new lifetime peak was reached by SHIB without being listed on the Robinhood app.

SHIB plummets after Musk's tweet

The canine cryptocurrency, referred to by the SHIB community as the "Dogecoin killer," went down after Elon Musk rejected it in his tweet.

On Sunday, Oct. 24, SHIB soared to a new historic peak of $0.00004442. On the same day, after the Tesla CEO posted his "anti-SHIB" tweet, the second-largest meme cryptocurrency plunged approximately 14% to $0.00003472. However, later on, SHIB recovered to the $0.00004 level.

SHIB became the third-most-traded crypto after Bitcoin and Tether (surpassing even Ethereum) and became the most-traded crypto on Coinbase by margin.

At press time, the crypto is trading at $0.00003879, as per data provided by CoinMarketCap.

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Image via CoinMarketCap

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Peter Schiff Responds to Jack Dorsey About Bitcoin’s Role in Hyperinflation

Robinhood adds SHIB to its customer survey

On Saturday, U.Today reported that the Robinhood app, which is expected to list Shiba Ibu soon, included SHIB in its customer survey to study their crypto preferences.

The survey contained a list of cryptos and a question as to whether a user has recently bought any of the cryptos offered on the list, including SHIB, XRP, ADA, DOGE and a few other popular cryptocurrencies, together with Bitcoin.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.