New Delhi: In recent times, the popular meme coin Shiba Inu has gained immense popularity as its value surged to 140%. The surge has increased the trading of digital coins and the present investors are currently billionaires.
However, US whistle-blower Edward Snowden has warned people against investing in Shiba Inu, calling it a “clone of dog money.” Besides, the former NSA (National Security Agency) has seemed to be backed by the world’s richest and CEO of Tesla Elon Musk, who too recently snubbed the popular meme coin.
“I say this with love: if you got talked into exchanging your hard-earned savings for some new dog money because a meme said you’d get rich, please carefully consider your odds of outsmarting a market that sold to you its stake in *not even dog money but a CLONE of dog money*,” Snowden tweeted on Sunday.
dog money?
— Joel Schectman (@joel_schectman) October 31, 2021
In return, Reuters’ journalist Joel Schectman, asked him what did Snowden meant by his tweet.
“Dog money?” asked Schectman to which Snowden gave a sarcastic reply saying, “If you don’t know what I’m talking about, you’re honestly better off not knowing.”
Elon Musk, who came across the screenshots of the Twitter reactions between the Reuters’ journalist and Snowden, responded with a single emoji that represents “ROFL” (Rolling on the floor laughing).
?
— Elon Musk (@elonmusk) October 31, 2021
Shiba Inu was founded in August 2020 by someone who uses the name Ryoshi. It is a self-proclaimed “dogecoin killer” which is currently at the seventh position in the world’s largest cryptocurrency list.
Elon Musk is popularly known for being the CEO of Tesla motors and also for his endorsement of cryptocurrencies. Last week he asserted that he holds Bitcoin, Ethereum, and Dogecoin.
“Out of curiosity, I acquired some ASCII hash strings called ‘Bitcoin, Ethereum & Doge’. That’s it,” tweeted Musk when asked about his investment in meme tokens. “As I’ve said before, don’t bet the farm on crypto! True value is building products & providing services to your fellow human beings, not money in any form,” he added.
