Elon Musk Secretly Holds 40% of all Shiba Inu Coins, Conspiracy Theorists Say After Decoding Tweet

Elon Musk has positioned himself as the 'Dogefather' as the billionaire entrepreneur involved himself in the cryptocurrency market by buying Dogecoins in February 2021 and has since then not been able to stop tweeting or talking about it. Apart from tweeting about Tesla and Space X, Elon regularly shares memes on Doge and other cryptocurrencies.

Just recently, Elon shared a tweet saying ''My Shiba Inu will be named Floki'' claiming that he would name his new dog Floki and though the tweet was pretty straightforward, conspiracy theories are rife on social media claiming that the Tesla CEO has stacked himself with Shiba Inu coins already and has not made it public yet.

Elon Musk Shiba Inu Coin Cryptocurrency

On June 25, Elon tweeted that he would invest $30 billion in the internet service provider Starlink and aims to offer broadband to up to 5% of the world's population and mentioned a number in the tweet saying, ''strategically important threshold of 69,420''.

Conspiracy theories claim that the number ''69,420'' is a secret code sent out by Musk about his Shiba Inu holdings. Conspiracy theorists dug up information about the coins 'whales' and unidentified a person having the number ''69,420'' in it.

Elon Musk Own 40% Coins Shiba Inu
SubReddit / Shiba Inu

Though the number can just be a coincidence, conspiracy theorists claim the Space X founder owns 40% of the Shiba Inu coins through the Dead Wallet Exchange and the large holdings belong to none other than him. However, the identify of the mysterious holder of the coins is not officially revealed.

Shiba Inu has been gaining prominence as the 'Doge killer' and is at loggerheads with Dogecoin. While Doge is aiming to reach the $1 mark, Shiba Inu is racing itself to reach the 1 cent milestone.

However, both the coins traded in red in May and June due to the Bitcoin crash that dragged the market down and has now picked up steam and is trading in green.

Also, just a while back, Elon Musk tweeted a meme about Dogecoin and within minutes the meme-cryptocurrency rose +2.5% in its day trade and is hovering at $0.25 at the time of publishing.