Shiba token has risen in price by 70% in an hour after Elon Musk’s tweet about a puppy

Musk wrote that he was looking after a Shiba Inu puppy. Because of this, the value of an altcoin of the same name has skyrocketed.

Tesla CEO Elon Musk tweeted that he was looking after a Shiba Inu puppy. Since the publication of Mask, the price of an altcoin called Shiba Inu has risen by 68% per hour, according to CoinGecko.

The billionaire responded to Hiro Mizuno’s post as UN Special Envoy for Innovative Finance and Sustainable Investment. He noted that it is okay if traders prefer to trade Dogecoin for a short time. According to Mizuno, Shiba Inu puppies should not be treated in the same way, as they must be held accountable. Dogecoin is associated with the Shiba Inu, as a dog of this breed is depicted on the logo of the coin.