SHIBA Inu investors are in meltdown after the cryptocurrency’s founder sent a mysterious tweet to Kanye West.
The digital currency is one of the most popular cryptos – with the price skyrocketing in value since its inception last year.
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Last night, Shiba’s founder Shytoshi Kusama caused a stir when he tagged in Kayne to a tweet.
He wrote: “Good choice @kanyewest.”
This sparked thounsands of retweets and likes with some followers admitting “I’m lost” while trying to figure out the significance of the post.
Another tweeted: “No matter how long you scroll, you will not find the answer.”
A third claimed that Kanye IS the mysterious fonder of Shiba Inu.
They wrote: “Y’all can’t tell me he if he not shytoshi he damn sure knows who is!!!!”
The price of the coin was left relatively unaffected by the tweet which rap megastar Kanye did not reply to.
Cryptocurrencies are extremely volatile and can be very risky to invest in.
Unlike other types of investment, crypto is not regulated so you don’t have protection if things go wrong.
Another concern for anyone considering investing is there’s no guarantee you’ll be able to convert your assets back to cash when you need to.
This is not the first time Kanye’s name has been used in connection with a cryptocurrency.
In 2014, a US development team created Coinye using a likeness of the rapper as a fish as its mascot.
However, Kanye’s legal team quickly took action against the currency prompting its developers to abandon the project.
Two contrasting stories have shown the volatility in investing in Shiba Inu.
One trader reportedly bought £5,800-worth of the coin in August last year – and it’s now worth a whopping £4billion.
The mystery billionaire purchased a mammoth 70 trillion coins shortly after the currency was created 14 months ago, according to their crypto wallet.
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According to Etherscan, the anonymous investor started trading on August 1, 2020, when they bought about 70 billion Shiba coins in one day.
But another Reddit user has claimed he convinced his aunt to invest $200,000 in Shiba – only for her lose tens of thousands of dollars in 24 hours.
The anonymous poster says his relative, 47, was inspired by him bragging about the fortune he was making before dumping her savings into the meme cash.
We recently compared the differences between Dogecoin and Shiba.
And we rounded up five things you need to know about the Shiba Inu tokens.
Plus, check out four things you need to know about Dogecoin.
