Elon Musk has said he has not invested in Shiba Inu (SHIB), which has resulted in the crypto's price plummeting more than 20%.
On Sunday, a Twitter user asked how many Shiba Inu tokens the billionaire owned. Musk replied "none," after which the altcoin's price dropped by 27% to $0.000032. On the morning of October 25, the crypto is trading at $0.00003884.
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Musk added that out of curiosity, "I acquired some ascii hash strings called ‘Bitcoin, Ethereum & Doge.’" Musk said "true value is building products & providing services to your fellow human beings, not money in any form."
The Tesla CEO has also denied that the head of his family office, Jared Birchall, is one of the advisors to the non-profit Dogecoin Foundation.