Elon Musk Addresses Shiba Inu Ownership Rumors

TLDR

• Elon Musk confirmed on October 24, 2021, that he does not own any Shiba Inu tokens.
• He responded “None” when asked how many Shiba Inu tokens he held in his portfolio.
• Musk stated that he owns only Bitcoin, Dogecoin, and Ethereum.
• His comment followed growing speculation about his possible involvement with Shiba Inu.
• Shiba Inu traded between $0.000033 and $0.000044 at the time of his response.

Elon Musk publicly clarified that he does not own any Shiba Inu tokens. He answered a direct question in October 2021 and ended market rumors. His response addressed ongoing speculation about his crypto portfolio.

Shiba Inu: Musk States He Holds None

On October 24, 2021, Elon Musk responded to a question on social media. A user known as “SHIB Holder” asked how many Shiba Inu tokens he owned. Musk replied, “None,” and he gave no further explanation.

His answer came as Shiba Inu gained rapid traction in the crypto market. At that time, many traders linked Musk to meme coins. However, Musk confirmed he did not hold any SHIB tokens.

A crypto influencer later resurfaced Musk’s comment about Shiba Inu holdings. The post suggested that his response pressured the token’s price. However, market data showed only a brief pullback after his statement.

At the time of the exchange, SHIB traded between $0.000033 and $0.000044. Despite the reaction, the token continued its upward trend. Four days later, on October 28, 2021, SHIB reached $0.00008845.

That rally marked the token’s all-time high. Since then, the asset has declined about 93.55% from that peak. Current data shows SHIB trading near $0.000005703.

Bitcoin, Dogecoin, and Ethereum Confirmed in Portfolio

While denying Shiba Inu ownership, Musk identified the cryptocurrencies he holds. He stated in 2021 that he owns Bitcoin, Dogecoin, and Ethereum. He has repeated this position in later public comments.

Musk has maintained a close association with Dogecoin. His posts about the meme coin have influenced its public profile. He has also supported Dogecoin through business activity.

SpaceX enabled Dogecoin payments for select merchandise. This move strengthened Musk’s link with the token. As a result, many investors questioned whether he also backed Shiba Inu.

However, Musk has avoided engagement with the Shiba Inu community. He has not endorsed the project or commented on its ecosystem developments. His silence has continued despite repeated outreach efforts.

Shiba Inu developers have attempted to gain Musk’s attention. Lead developer Shytoshi Kusama proposed the Strategic Hub for Innovation in Blockchain, or S.H.I.B. He suggested it could align with initiatives tied to Donald Trump’s administration.

The proposal followed Musk’s planned launch of the Department of Government Efficiency. Supporters also highlighted ecosystem updates to attract recognition. However, Musk has not responded to those initiatives.

Musk continues to confirm ownership of Bitcoin, Dogecoin, and Ethereum only. He has not indicated interest in Shiba Inu. His last direct statement on the matter remains his October 24, 2021, reply, “None.”

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