Elon Musk raises armies of XRP and SHIB’ Enthusiasm with his recent cryptic post about X!
Elon Musk, the tech mogul behind Tesla, SpaceX and current owner of X, has once again sent ripples through the cryptocurrency world on his social platform. This time, the XRP and Shiba Inu (SHIB) communities reacted quickly to what they saw as references to Musk's beloved cryptocurrencies.
In a recent post, Musk wrote the phrase “ In X S. ” What X denotes is no longer news. As is often the case, XRP enthusiasts immediately drew a connection between “X” and XRP supporters, and Shiba Inu supporters took the “S” to represent SHIB.
Vet Kusama ( @vetkusama ), a member of the Shiba Inu community and team, went a step further, suggesting that Musk's post could mean “ In X Shi. ”
This interpretation refers to the development of the new stablecoin known as “SHI,” which is currently underway within the Shiba Inu ecosystem alongside other tokens such as SHIB, BONE, LEASH, and TREAT.
Not to be confused with the already launched Shina Token (SHI), the SHI stablecoin is still being worked on and will be a decentralized stablecoin focused on protecting digital identity. This stablecoin is different from the recently launched PYUSD, PayPal is considered centralized, with the company having the ability to freeze users’ funds when they choose.
