CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.67% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

Elon Musk sends meme coins soaring with cryptic tweet

By Daniela Ešnerová

13:13, 18 October 2021

Dogecoin
Dogecoin – Photo: Shutterstock

As the price of the biggest cryptocurrency bitcoin attacks its all time high – this time without any help from Elon Musk – the entrepreneur and crypto enthisuast has proven once again that he still has great influence over the crypto market. 

Shiba Inu coin soared 21% after Tesla's founder tweeted a picture of a Shiba Inu dog holding a rocket, which has been interpreted as a reference to the token going ‘to the moon’.

Shiba Inu, which had been adding some handsome gains in the previous days, is now trading at $0.00002735.

XRP/USD

1.40 Price
-6.580% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 0.01168

ETH/USD

3,331.85 Price
-2.550% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 6.00

DOGE/USD

0.42 Price
-3.330% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 0.0012872

XLM/USD

0.52 Price
+3.830% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 0.00216

Continued support

Shiba Inu coin, which was launched in August 2020 by mysterious founder “Ryoshi” as a spin-off from Dogecoin, is now up 6.88% in-day at time of writing, according to CoinMarketCap.com. Dogecoin (DOGE) was also up 6.94% following the billionare’s tweet.

Today was not the first time the pet-inspired token has benefitted from the billionaire's support. Earlier this month, Shiba skyrocketed 67% after Musk posted a picture of his own Shiba Inu, Floki, on Twitter. 

Read more: Dogecoin price prediction for 2021: should you jump on the crypto bandwagon?

 

Markets in this article

DOGE/USD
DogeCoin / USD
0.4206419 USD
-0.0145158 -3.330%
SHIB/USD
Shiba Inu / USD
0.00002576 USD
-0.00000087 -3.340%

Related topics

Rate this article

Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

Still looking for a broker you can trust?

Join the 660,000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading