Elon Musk and 2 latest tweets are making waves in the crypto community

Elon Musk once again proves his influence in the crypto space with his 2 latest tweets about Bitcoin and Shiba Inu.

Elon Musk and 2 latest tweets are making waves in the crypto community

Elon Musk is once again playing with the crypto community. This time, the Tesla boss shares his love with Shiba Inu fans while attracting the Bitcoin crowd at the same time. Crypto investors know Musk’s influence on the direction of the market, and many get his good support.

The newest one is the meme token, according to one of Musk’s recent tweets. He casually announced that “his Shiba Inu will be called Floki”, apparently based on the Viking shipbuilder. The reference seems to indicate that the Shiba Inu team is building something that Musk supports. The tweet attracted nearly 17 thousand replies and 18 thousand retweets.

Immediately the SHIB token rose up to 9% and while the crypto market remained in the doldrums. Crypto investors either cheer Musk for the price spike or accuse Musk of manipulating the market.

As Musk is making friends in the world of coin memes, he is stirring up Bitcoin investors, especially those involved in the leading cryptocurrency known as followers, maximalism. Musk, whose interest in Bitcoin is the energy consumption associated with mining, asked, “How many Bitcoins does it take to screw into a lightbulb?”

His clever tweet drew a lot of reactions, including Michael Saylor, who aptly replied, “If you give us 10 minutes, maybe we can find out.” The 10-minute interval refers to the time it takes for a block to be verified on the Bitcoin blockchain and the miners to be rewarded.

In a conversation also held on Twitter, billionaire Elon Musk and Bitcoin investor Jack Dorsey agreed to have a “talk” about Bitcoin that will likely be broadcast at an event in July.

Can Elon Musk’s tweet change the current gloomy crypto market?

According to Bitcoin News, competition between crypto communities is nothing new, but they do tend to heat up as prices come under pressure as investors become competitive. In the case of Bitcoin, its value has almost halved from its high of over $ 64,000. While many volatility traders are concerned about this drop, bitcoin bulls see it as a buying opportunity.

Shiba Inu prices are also under pressure towards the end of the year. SHIB investors have tried in vain to gain exposure and liquidity for the token by scoring listing points on major exchanges, just as their bigger rival Dogecoin has done. Maybe Musk can change the status quo.

Cryptocurrency prices fell amid China’s tough crackdowns and regulatory tightening by banks and regulators in the US, South Korea and other countries.

Although the legal tender for Bitcoin in El Salvador has sparked a pro-crypto movement in Latin America and Africa, it doesn’t seem like enough catalysts for the leading cryptocurrency to make a step forward.

While some big investors like Michael Saylor continue to support the potential of BTC and believe in the potential of BTC if they continuously raise capital to hold Bitcoin, Elon Musk has been pretty calm lately.

However, his last 2 tweets today caused a stir in the crypto community. Aside from those who oppose it and see it as market manipulation, many people look forward to the next bull run.

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