The impact that tech titan Elon Musk has had on the cryptocurrency market is beyond imagination. Since the moment he publicly disclosed that he owned Dogecoin at the end of 2020, the history of meme coins has changed dramatically. At the time, DOGE was worth about $0.002, but it surged to $0.73 in just 6 months. A rise of 36,500% delivered unbelievable gains to many investors.

Elon Musk also openly talked about Dogecoin in interviews and on SNL, even referring to it as the “people’s currency,” positioning it as a flagship meme coin. His influence is tremendous, drawing millions of new investors from around the world into the crypto market.

However, in the same meme coin space, a powerful rival—Shiba Inu (SHIB)—soon emerged. During the bullish market of 2021, SHIB supporters recorded a 85,000,000% surge, competing fiercely with the Dogecoin camp. Users became curious whether Elon Musk has invested in Shiba Inu as well, and asked him directly on X.

Interestingly, the CEO of Tesla responded to that question. He stated that his portfolio does not include Shiba Inu tokens. The only cryptocurrencies Elon Musk holds are Dogecoin, Bitcoin, and Ethereum. He has no investments in other meme coins, including Shiba Inu. This announcement suggests that Elon Musk is cautious about projects other than Dogecoin.