Elon Musk posted a tweet that the community interpreted as “Shiba Inu to the moon,” which triggered the SHIB price hike. Aside from that, Santiment shared another important reason for the meme coin.

Musk pushes SHIB price down to 15% again

Once again, the CEO of Tesla and SpaceX has shown that he still has an influence on pumping meme coins with his tweets.

The world famous businessman posted a tweet today “drawing” an animal with a soaring missile that the community thinks is a Shiba Inu dog and may be related to Dogecoin or “destroyer” killing SHIB.

In the comment threads, several members of the crypto community posted SHIB charts suggesting that the meme coin is up more than 10% thanks to this tweet from Musk. Overall, the coin is up nearly 15% so far after hitting $ 0.00002885 this morning.

Shiba is up 10% since that tweet pic.twitter.com/ZxsBqrpxEz

– Fintwit (@fintwit_news) October 17, 2021

Retail demand for SHIB remains very strong. WOODIn the midst of the latest impressive performance is the DOGE terminator Almost 40,000 new owners gained in just ten days.

Before that, from October 8th, SHIB there are 699,971 holders. By October 18, that number had grown to 738,483, an increase of 38,512 new Hodlers at the time of publication.

Hodler SHIB on October 18th. Source: Etherscan.io

Also, according to data provider Santiment’s analytics team, the number of SHIB transactions worth $ 100,000 has increased recently, and when these large transfers are in batches, the coin price usually goes up.

???? #Shiba Inu is back to $ 0.00002885 while the spotlight is back on #Bitcoin and his closeness to his new one #All time high. But keep an eye on it $ SHIB‘s whale transactions exceed $ 100,000. When these transactions occur in bundles, price increases generally follow. https://t.co/oeGN85BpXS pic.twitter.com/G9kJopNTHE

– Santiment (@santimentfeed) October 18, 2021

“Shiba Inu rose to $ 0.00002885 while the focus returned to Bitcoin and its new ATH. But keep an eye out for SHIB whale trades worth over $ 100,000. When these transactions are done in batches, the price usually goes up. “

According to etherscan, several transfers over the weekend Giant SHIB, more than 80 billion coins at a time, were captured by anonymous whales. A total of around 260 billion SHIB were transferred.

Source: Etherscan

As a reminder, the recent Shiba Inu price hike has also been fueled by large SHIB transfers from whales. One of them bought 6 trillion SHIB in just one transaction and then added 276 billion coins.

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