Why is Shiba up?

The cryptocurrency market is extremely unpredictable. The cryptocurrencies that have no justification for being at the top are frequently pumped up.

However, after a tweet from Tesla CEO and Dogecoin investor Elon Musk, the coin has risen in value. After Musk shared a photo of his new pet dog dubbed ‘Floki,’ the price of Shiba Inu surged in a matter of minutes.

On Monday, Musk tweeted another photo of the puppy with the caption “Floki Frunkpuppy,” causing the token’s price to skyrocket.

Since Dogecoin’s buzz has died down, many new crypto fans have been actively promoting the Shiba Inu Coin. Musk, who has previously advocated for Dogecoin, has suddenly become the face of SHIB price swings since his pet has become a web sensation.

Experts, on the other hand, believe that such a rapid increase in the price of the token for no apparent cause is not good for investment.

Major investors estimate that the coin’s value will climb in a year, but only to roughly $0.000018. In the next three to four years, no significant crypto market expert or firm predicts that the coin will hit $1.