#SaylorBTCPurchase #EUPrivacyCoinBan $SHIB
Date: May 4, 2025
Shiba Inu may be able to eliminate two zeros if Elon Musk promotes it like Dogecoin, based on historical data regarding DOGE's performance.
Shiba Inu and Dogecoin have a history of unprecedented price surges, resulting from various factors that contributed to their rise. At the same time, some consider Shiba Inu to be the best-performing digital asset in 2020/2021, having experienced an astonishing price increase of 150,000,000%.
Dogecoin also experienced remarkable price movement during that cycle. Notably, its performance is mainly attributed to Elon Musk's historic support at that time. Unlike Dogecoin, the astonishing growth of Shiba Inu is primarily due to community support and significant media hype in the market.
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With Dogecoin benefiting from the support of the world's richest person, questions are now raised about how SHIB would perform if it received a similar boost from Elon Musk as DOGE did.
Historical movements in Dogecoin's price amid Elon Musk's promotion
Elon Musk first mentioned "Dogecoin" in a tweet on July 18, 2020. This was in response to a follower's question about Bitcoin, to which Musk replied, "I only sell Dogecoin." On that day, Dogecoin was trading at $0.003031, and it rose by 24% to $0.003753 the following day after the mention. At that time, Shiba Inu did not yet exist.
The price of Dogecoin later fell to $0.002400 in the following months. However, Musk mentioned Dogecoin again in a tweet on November 17, 2020. The price of Dogecoin rose from $0.002886 that day to $0.003800 before the end of the month. The rise continued in the following month, surpassing the $0.0040 mark.
On December 20, 2020, Musk made a more explicit statement with a tweet titled "One word: Dogecoin", in a standalone post, not in response. This tweet had a larger impact, as the price of Dogecoin rose from $0.0038 to $0.0054 the next day, a 55.4% increase in one day.
From that point onward, Dogecoin experienced a steady upward trend, reaching the $0.01 mark in January 2021 as the crypto community increasingly noticed Elon’s promotion.
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A larger surge occurred on February 4, 2021, when Musk posted a picture showing a launch to the moon with the caption "DOGE". This marked the beginning of Dogecoin's historic rise. Musk intensified his promotion of Dogecoin that month with multiple tweets.
Elon Musk mentions Dogecoin
Elon Musk mentions Dogecoin
DOGE shares rose by 24,235% thanks to Musk's support
The value of Dogecoin rose from $0.0311 in February 2021 to an all-time high of $0.7376 by May of that year, an increase of 2271% in just three months. Notably, the Tesla store began accepting Dogecoin as a payment method during this period.
Considering the price of DOGE at $0.003031 at the time of Musk's first mention of its peak, it saw an astonishing increase of 24,235%, all within a year.
What if Elon Musk started promoting Shiba Inu like he did with Dog?
This leads us to a speculative question: what if Elon Musk promoted Shiba Inu like he did with Dogecoin? While this remains speculative and uncertain, we can estimate the potential outcome if Shiba Inu experienced growth similar to Dogecoin's 24,235%.
Applying a 24,235% increase to the current price of SHIB, which is $0.00001322, would result in a price of approximately $0.003217. This practically eliminates two zeros from the price of SHIB, just as it happened with Dogecoin thanks to Musk's influence.
However, the idea of Musk promoting SHIB is merely speculation and unlikely. Musk has shown a greater preference for Dogecoin over other cryptocurrencies.
Moreover, Shiba Inu may have indirectly benefited from Musk's promotion of Dogecoin in 2020 and 2021. While the value of Dogecoin surged significantly from July 2020 to May 2021, Shiba Inu also saw notable growth starting in January 2021.
SHIB's momentum extended into October 2021, when it peaked at $0.00008845. Considering its performance between the lowest and highest points that season, SHIB is said to have outperformed DOGE during that period.
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