Elon Musk Reveals True Stance on Shiba Inu Token—The Truth About His Crypto Portfolio

Elon Musk, CEO of Tesla and SpaceX, has exerted a unique influence in the cryptocurrency world. In late 2020, when he disclosed that he owned Dogecoin (DOGE), the market was greatly shaken. However, many investors are curious about his thoughts on Shiba Inu (SHIB) tokens. In reality, Elon Musk’s true stance on cryptocurrencies may be simpler than we imagine.

The Meme Coin Boom Driven by Support for Dogecoin

After Elon Musk revealed that he owned Dogecoin, the meme coin market changed dramatically. DOGE rose from a low of $0.002 in November 2020 to an all-time high of $0.73 in May 2021. In just six months, it surged over 36,500%, bringing enormous profits to many individual investors.

Musk openly spoke about Dogecoin in interviews and regularly tweeted about it on social media. He even appeared on a TV show titled “The Dogefather,” showing his support for DOGE was more than just words. The entrepreneur described Dogecoin as a “people’s currency,” a phrase that attracted millions of new investors into the crypto market worldwide.

As of March 2026, the price of Dogecoin has fallen to $0.10, a 47.54% decrease over the past year. Unlike its past glory, the market is now in a correction phase.

SHIB vs DOGE: Competition and Growth in the Meme Coin Market

During the 2021 market surge, the meme coin segment split into two main groups: Dogecoin and Shiba Inu (SHIB). These two factions fiercely competed across social media platforms.

The Shiba Inu camp grew rapidly because SHIB tokens experienced an astonishing increase of 85 billion percent from 2020 to 2021. Some investors speculated that after Elon Musk bought Dogecoin, he might have also invested in Shiba Inu. SHIB’s rapid rise drew widespread attention, fueling speculation about Musk’s next crypto move.

As of March 2026, SHIB has declined 54.60% over the past year, with a noticeable correction afterward.

Does Elon Musk Own Shiba Inu? — A Direct Answer

Many investors tagged Elon Musk on X (formerly Twitter), directly asking whether he holds Shiba Inu tokens in his portfolio. In response, the Tesla CEO gave an unexpected answer.

When asked, “Hey Elon Musk, how many SHIB do you have?” Musk simply replied, “No.” This clarified that the founder of SpaceX does not own Shiba Inu tokens.

In fact, Elon Musk’s portfolio is very straightforward. The cryptocurrencies he owns are only Dogecoin, Bitcoin, and Ethereum. He does not hold any other virtual currencies. This shows that even during the meme coin boom, his investment decisions remained consistent.

This clear stance from Elon Musk shattered the expectations of Shiba Inu supporters. At the same time, it highlighted his strategic and selective approach to cryptocurrencies. Musk’s public declaration of “not holding” Shiba Inu signifies more than just personal investment choice; it symbolizes his cautious attitude in the meme coin market.