On Eid night yesterday, the price of the crypto Shiba Inu (SHIBA) had fallen by more than 30% following news of the production by Vitalik Buterin which shocked the crypto community.
As you know, SHIBA is one of the most popular crypto memes after Dogecoin which managed to record the highest price level of all time to $ 0.7 recently. The price spike that impacted SpaceX accepting Dogecoin as a form of payment and was frequently touted by Elon Musk made people interested in crypto memes.
Following that, SHIBA has jumped over 1500% in one week with the addition of listings on Okex and Binance. However, yesterday Ethereum founder Vitalik Buterin decided to donate a total of $ 1 Billion in Shiba for Covid-19 assistance in India.
Some of the crypto community thinks it’s a good thing and could increase SHIBA’s popularity in the eyes of the world even if it has an impact on SHIBA’s price.
Today, crypto also experienced a massive discount after Elon Musk posted a taste on Twitter that Tesla had "delayed the purchase of vehicles using bitcoin," over concerns of "rapidly increasing fossil fuel use for bitcoin mining."
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
- Elon Musk (@elonmusk) May 12, 2021
The price of bitcoin plunged more than 15% in the first minutes after Musk’s announcement.
While Tesla says it will not accept bitcoin for vehicle purchases for the time being, Musk informed that Tesla prefers to peram bitcoin that has been purchased and will be looking at other cryptocurrencies that use less than one 1%energy/transactions. What cryptocurrency is is still speculation among the community.
