Elon Musk has been a part of various successful endeavors within the crypto market; he was the first influencer to ever talk about cryptocurrencies and the idea of decentralization. He then went on to adopt Bitcoin through proper channels, as it was made a part of Tesla and added securely as a mode of payment for people to buy the services of the company or new electric vehicles, for that instance. But then something along the line changed for Elon Musk as he left Bitcoin for good due to the exaggerative environmental implications of crypto mining and joined Dogecoin instead.
Elon Musk has been trying ever since to bring the price of Dogecoin to an even dollar but has failed to do so. He has not only presented the developers with his full financial and technical support to make the blockchain of Dogecoin one of a kind and more efficient than it ever was. The latest reports from a dedicated website leaks presumably point towards Tesla accepting Shiba Inu as a mode of payment. These are only rumors at this point, as no official statement has been made available to the public by Tesla.
The very stem of these rumors is the website source code of Tesla and its analysis in which Shiba Inu is pointed as a dedicated mode of payment. When Tesla adopted Bitcoin back in the day and announced about making a $1.5 billion investment into the cryptocurrency Bitcoin, it saw a 23% hike right off the bat in terms of performance and value. According to many analysts, the adoption of Bitcoin by Tesla was the very phenomenon that triggered this sudden increase in cryptocurrency.
Shiba Inu’s Performance
Shiba Inu is already doing great as it was able to secure the market cap of Dogecoin and has surpassed it on paper. It is possible that if these rumors are somehow cross-referenced and come out to be true, then the cryptocurrency might see an endearing increase in its price and value over time.
