## The Truth About Elon Musk Revealing He Does Not Hold Shiba Inu Tokens

Tesla CEO Elon Musk publicly disclosed through a direct response on social media that he does not hold any Shiba Inu (SHIB) tokens at all. This statement drew significant attention among many cryptocurrency investors and put an end to long-standing speculation about Musk's portfolio composition.

### The Deep Connection Between Dogecoin and Musk

At the end of 2020, Elon Musk announced that he owned the meme coin "Dogecoin," which is themed around dogs. This announcement caused dramatic fluctuations in DOGE's price. From a low of $0.002 in November 2020, it reached an all-time high of $0.73 in May 2021, recording an increase of over 36,500% in just six months.

Musk frequently mentioned Dogecoin in TV appearances and tweets, expressing active support by calling it the "people's currency." His association with Dogecoin is deeply ingrained, including referring to himself as "The Doge Father" during his SNL appearance.

### The Competition Between Shiba Inu and Musk’s Position

During the peak of the bullish market in 2021, the meme coin market was divided into two major forces: Dogecoin and Shiba Inu. The Shiba Inu camp experienced an astonishing rise and fall of approximately 85 billion percent from 2020 to 2021, rapidly expanding its influence.

In this context, many investors speculated that Elon Musk, after holding Dogecoin, might also have invested in Shiba Inu tokens. When a social media user directly asked, "Elon Musk, how many SHIB do you hold?" Musk clearly responded "No," completely denying the possibility of SHIB holdings.

### The Reality of Musk’s Cryptocurrency Portfolio

According to Elon Musk, the founder of Tesla and CEO of SpaceX, his digital asset holdings are limited to Dogecoin, Bitcoin, and Ethereum, and he does not own any other cryptocurrencies. This announcement completely dispels investor speculation that Shiba Inu might be a secret supporter of Musk.

Currently, Dogecoin is trading near $0.13, continuing its downward trend from its peak. Meanwhile, Shiba Inu tokens are also affected by the overall market correction, and both meme coin markets continue to evolve.