Elon Musk Tweets About Naming His Dog

Elon Musk appears to be back at it once again. Following a short hiatus from the crypto scene, the Tesla founder is back at it. The billionaire has been actively tweeting about crypto again.

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His most recent tweet which may or may not be related to the Shiba Inu (SHIB) token, states that “My Shiba Inu will be named Floki.”

The tweet was well-received by the SHIB token as it surged 25% to a new six-day high.

Source: Tradingview
Move over DOGE
Musk has been a huge fan of the meme project Dogecoin. The billionaire actively supported the project in past months, spurring on a new all-time high for the project, multiple times. DOGE managed to soar to an impressive $0.73 high before Musk’s disappointing Saturday Night Live performance, which has since seen DOGE decline in price.

However, the latest tweet indicates that perhaps Musk has decided to switch allegiances, from DOGE, to SHIB.

SHIB is currently ranked 27 based on market capitalization. The project’s market cap is currently $3.6 billion, which is ten times less than DOGE.

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Musk a key player in crypto price action
Musk has had a serious influence in price movements in 2021. The outspoken billionaire has been criticized by some, with former Secretary of Labor Robert Reich saying, “His tweets are having a serious impact on markets. It’s just another example of how billionaires get away manipulating markets without accountability.”

Regardless of his tweets and personal opinion, Musk has previously stated that crypto investors should invest with caution. While Musk is a big fan of the industry, he did previously say that investing your life savings in crypto is “unwise.”

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Love/Hate Relationship
Musk flexed his muscle in the cryptocurrency market in which he has a love/hate relationship. The SHIB token is climbing higher by almost 9% and climbing while the broader cryptocurrency market remains in the doldrums. Crypto investors either cheered Musk for the price gains or blamed him for manipulating the markets, and a variety in between.

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Source: TradingView
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Poking the Bear
While Musk is winning friends in meme coin circles, he is stirring things up among bitcoin investors, especially those who are all in on the leading cryptocurrency, known as maximalists. Musk, whose gripe against bitcoin is the energy consumption involved with mining, poked the bear, asking, “How many Bitcoin maxis does it take to screw in a lightbulb?”

His clever tweet attracted a slew of responses, including the bitcoin bull himself, Michael Saylor, who cleverly replied, “If you give us 10 minutes, maybe we can hash out the answer.” The 10-minute nod is in reference to the time it takes for a block to be verified on the Bitcoin blockchain and for miners to be rewarded.

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Source: Twitter
In a conversation that also played out on Twitter, billionaires Elon Musk and Jack Dorsey, a bitcoin bull, have agreed to have a “talk” on bitcoin that will seemingly be broadcast at a July event.

Crypto Rivalries
Rivalries between the cryptocurrency communities are nothing new, but they tend to heat up with prices are under pressure as investors become on edge. In bitcoin’s case, its value has been nearly slashed in half since its peak of more than USD 64K. Bitcoin bulls see it as a buying opportunity.

The Shiba Inu price has been under pressure of late as well. SHIB investors have tried to no avail to bring attention and liquidity to the token by scoring listing on major exchanges, just as their larger rival Dogecoin has already managed to do. Perhaps Musk can put in a good word.

Elon Musk Toys With Shiba Inu Fans and Bitcoin Maximalists

Elon Musk is toying with the cryptocurrency community once again. This time, the Tesla chief is sharing the love with Shiba Inu fans while poking the bitcoin crowd. Cryptocurrency investors know the influence that Musk seemingly has on the direction of the market, and many are trying to get in his good graces.

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The meme token has managed to do just that, as evidenced by one of Musk’s latest tweets. He randomly proclaimed that his “Shiba Inu will be named Floki,” seemingly in reference to the shipbuilder character on the series Vikings. The reference seems to suggest that the Shiba Inu team is building something Musk supports. The tweet amassed nearly 17K replies and 18K retweets.

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Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Love/Hate Relationship
Musk flexed his muscle in the cryptocurrency market in which he has a love/hate relationship. The SHIB token is climbing higher by almost 9% and climbing while the broader cryptocurrency market remains in the doldrums. Crypto investors either cheered Musk for the price gains or blamed him for manipulating the markets, and a variety in between.

jumboslot

Source: TradingView
Advertisement

Poking the Bear
While Musk is winning friends in meme coin circles, he is stirring things up among bitcoin investors, especially those who are all in on the leading cryptocurrency, known as maximalists. Musk, whose gripe against bitcoin is the energy consumption involved with mining, poked the bear, asking, “How many Bitcoin maxis does it take to screw in a lightbulb?”

His clever tweet attracted a slew of responses, including the bitcoin bull himself, Michael Saylor, who cleverly replied, “If you give us 10 minutes, maybe we can hash out the answer.” The 10-minute nod is in reference to the time it takes for a block to be verified on the Bitcoin blockchain and for miners to be rewarded.

slot

Source: Twitter
In a conversation that also played out on Twitter, billionaires Elon Musk and Jack Dorsey, a bitcoin bull, have agreed to have a “talk” on bitcoin that will seemingly be broadcast at a July event.

Crypto Rivalries
Rivalries between the cryptocurrency communities are nothing new, but they tend to heat up with prices are under pressure as investors become on edge. In bitcoin’s case, its value has been nearly slashed in half since its peak of more than USD 64K. Bitcoin bulls see it as a buying opportunity.

The Shiba Inu price has been under pressure of late as well. SHIB investors have tried to no avail to bring attention and liquidity to the token by scoring listing on major exchanges, just as their larger rival Dogecoin has already managed to do. Perhaps Musk can put in a good word.

GeniusShipBuilder

Elon Musk has made SHIBA INU meme-token (which is being promoted as a rival of Dogecoin) surge 11 percent by his recent tweet about a Shiba dog and Floki ship builder from the Vikings series.

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SHIBMusk2506
Image via CoinMarketCap
Musk wants to name his Shiba dog Floki, SHIB spikes
Elon has tweeted that his Shiba Inu dog will be named Floki. That’s a fictional character of the “genius ship builder” from the popular Vikings movie series, without who Ragnar would have been unable to sail to new lands.

flokimuskshiba
The token of the same name (SHIBA INU) started growing on that tweet immediately, soaring over 11 percent.

Analyst Michael van de Poppe pointed at the coin’s rise in the comments.

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Image via Twitter
Related
“Bitcurious” Elon Musk Agrees to Have “The Talk” About Bitcoin with Jack Dorsey
Earlier, U.Today reported that Musk ridiculed the Shiba Uni community for tweeting that nobody will use DOGE – Musk’s favorite meme-coin.

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About the author
Yuri Molchan
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.

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Cardano price confronts imposing $1.40, but ADA relative strength may prevail
Cardano price rebound from the 200-day simple moving average (SMA) began with a doji candlestick pattern and has since evolved into two meaningful days higher with ADA now testing the intimidating 2018 high of $1.40. ADA may be poised for a period of oscillating price action around $1.40, but the cryptocurrency may have achieved a final corrective low.

XLM price could skyrocket 45% if it can reclaim this critical barrier
XLM price has slipped below the range low after the recent crash. Despite the minor recovery rally, Stellar is trading below it. Going forward, the remittance token’s future is dependent on this barrier and will play a pivotal role in deciding its short-term future.

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Shiba Inu Price Prediction: SHIB may reward patience with an 80% return
Shiba Inu price did test the May 19 low again earlier this week but did rebound before testing the June 11 low, establishing the low point of a potential inverse head-and-shoulders pattern. The ongoing rebound has been tentative, suggesting a mild pullback before starting a rally towards the pattern’s neckline.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

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FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

American Wrap 24 June

Cardano price confronts imposing $1.40, but ADA relative strength may prevail
Cardano price rebound from the 200-day simple moving average (SMA) began with a doji candlestick pattern and has since evolved into two meaningful days higher with ADA now testing the intimidating 2018 high of $1.40. ADA may be poised for a period of oscillating price action around $1.40, but the cryptocurrency may have achieved a final corrective low.

jumbo jili

XLM price could skyrocket 45% if it can reclaim this critical barrier
XLM price has slipped below the range low after the recent crash. Despite the minor recovery rally, Stellar is trading below it. Going forward, the remittance token’s future is dependent on this barrier and will play a pivotal role in deciding its short-term future.

Shiba Inu Price Prediction: SHIB may reward patience with an 80% return
Shiba Inu price did test the May 19 low again earlier this week but did rebound before testing the June 11 low, establishing the low point of a potential inverse head-and-shoulders pattern. The ongoing rebound has been tentative, suggesting a mild pullback before starting a rally towards the pattern’s neckline.

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With two four-hour moving averages haunting price, practicing patience and letting the SHIB right shoulder develop is advisable.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.

You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature.

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Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

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FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

SHIB may reward patience with an 80% return

Shiba Inu price currently building the right shoulder of a multi-week inverse head-and-shoulders pattern.
SHIB 200 four-hour SMA has flattened, reflecting a decline in downside momentum.

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Rookie cryptocurrency requires a 38% gain to trigger the new governing pattern.
Shiba Inu price did test the May 19 low again earlier this week but did rebound before testing the June 11 low, establishing the low point of a potential inverse head-and-shoulders pattern. The ongoing rebound has been tentative, suggesting a mild pullback before starting a rally towards the pattern’s neckline.

With two four-hour moving averages haunting price, practicing patience and letting the SHIB right shoulder develop is advisable.

Shiba Inu price still lacks the volatility to formalize a march higher
Shiba Inu price collapsed over 40% from the June 15 high of $0.00000986 to the June 22 low of $0.00000560 after being overwhelmed by the selling that gripped the cryptocurrency complex. SHIB did manage to hold the June 11 low, establishing a point to build the right shoulder of the visible inverse head-and-shoulders pattern.

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The measured move target of the pattern is $0.00001730, equating to an 82% gain from the neckline and nearly touching the 38.2% Fibonacci retracement level of the May crash at $0.00001754. To reach the neckline at $0.00000945, Shiba Inu price will need to rally close to 40%, overcoming the resistance established by the declining 50 four-hour SMA at $0.00000731 and the 200 four-hour SMA at $0.00000792. It is a long wait for impatient SHIB investors, but it will enhance the trade’s probability of success.

A breakout above the neckline by Shiba Inu price would meet resistance at $0.00001048 and then the merger of the May 24 high at $0.00001204 with the May 20 high at $0.00001214. There is no more meaningful resistance for SHIB until the measured move target of $0.00001730.

It is important to note that other cryptocurrencies formed inverse head-and-shoulders patterns, albeit with a larger footprint, before delivering significant investment returns to investors, such as XRP and ZIL.

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SHIB/USD 4-hour chart

Today, the rebound from the right shoulder low appears corrective, wedging higher on very light volume, possibly indicating that Shiba Inu price weakness has not passed. SHIB may need to revisit the shoulder low at $0.00000560 before staging a purposeful rally towards the pattern’s neckline if that is the case.

A decline below the head’s low at $0.00000550 would void the price structure, exposing Shiba Inu price to notable losses. It is a potential outcome for SHIB should the cryptocurrency market suffer a new wave of selling.

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Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.

You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature.

Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Shiba Inu price contemplates 32% advance amid multiple overhead barriers

Shiba Inu price set up a bottom at $0.00000520 on June 22 and rallied 25%.
The immediate resistance level at $0.00000653 and $0.00000812 might hinder the upswing.
A breakdown of $0.00000520 will invalidate the bullish outlook.

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Shiba Inu price appears to have not taken a big hit compared to BTC and other altcoins in terms of drawdown. SHIBA formed a bottom just below the swing low on June 12. Despite the presence of resistance levels, the dog-themed crypto looks to advance.

Shiba Inu price eyes a higher high
Shiba Inu price dropped roughly 50% from peak to trough between June 15 and June 22. The Coinbase listing and the crypto market meltdown have caused SHIB to set up a temporary range.

Although Shiba Inu price rallied roughly 25% from the bottom at $0.00000520, it looks primed for more upswing. A decisive 4-hour candlestick close above $0.00000653 will confirm the start of an uptrend and propel SHIB by 32% to the 50% Fibonacci retracement level at $0.00000871.

However, the supply barrier at $0.00000812 needs to be shattered for Shiba Inu to reach its intended target.

The reason behind this advance is the SHIB price returning to the mean after a massive drawdown. Therefore, the immediate resistance level at $0.00000520 needs to be flipped into support to have any chances of an upswing.

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SHIB/USDT 4-hour chart

On the flip side, if Shiba Inu price fails to slice through $0.00000520, it will signal weak buying pressure. In such a case, SHIBA might retest and even sweep the recent swing low at $0.00000519.

However, if Shiba Inu price produces a decisive close below it, the bullish thesis will face invalidation. In this were to happen, the dog-themed cryptocurrency might slide 19% to $0.00000420.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.

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You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature.

Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

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FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.