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Dogecoin's founder, Musk, reveals: Cryptocurrency has potential but requires cautious investment. He mentions wanting to raise a Shiba Inu, and Shiba Inu Coin surges by 70% again.

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Tesla founder Elon Musk posted a short video on Twitter chatting with fans on the street and signing autographs. In his post, he acknowledged that cryptocurrency has a promising future but cautioned about investing carefully. However, when he mentioned in a reply that he is considering getting a Shiba Inu puppy, Shiba Inu coin surged by nearly 70%.

Is Dogecoin the Future?

The video was released on 2/7 this year, where a fan first asked, "Elon, do you think Dogecoin can really become the next global currency?"

Musk responded by saying that he had previously posted a poll on Twitter, emphasizing that the future of currency depends on what people want.

The fan then mentioned, "Is it because Dogecoin, unlike Bitcoin, does not have a total supply limit, leading to inflation and a decrease in value?" Musk laughed and replied:

Yes, hahaha. What I want to emphasize is that people should not invest their life savings in cryptocurrencies. I think that would be very unwise. However, cryptocurrencies do have a good chance of becoming a global currency. The current situation is like which currency will ultimately become the global currency? Maybe not just one.

Musk also mentioned that the speculative nature of cryptocurrencies is still too high and warned everyone not to over-invest. He also "seriously" responded to his true thoughts on Dogecoin:

Dogecoin was created as a project from a joke, mainly to mock cryptocurrencies. But as fate would have it, the most interesting results are often the most ironic: "A cryptocurrency born from a joke eventually becomes a real currency."

As Musk was about to leave, he once again urged, "Don't take too much risk on cryptocurrencies."

Shiba Inu Coin Surges Again

In addition to the above tweet, Hiromichi Mizuno, former CIO of the Japanese government pension fund and board member of Tesla, tweeted:

If investors want to speculate on Shiba Inu Coin in the short term, that's fine. But please don't do the same thing to real Shiba Inus. Three-minute enthusiasm, once you adopt them, take good care of them for life. They are cute animals and friends of humans. - Shiba Inu breathing fresh air on the streets of Tokyo.

Musk replied, "I want a little Shiba Inu!"

With that statement, Shiba Inu Coin SHIB surged in a straight line within a minute of Musk's post, with the highest increase reaching 71.14%.

In March, Musk also mentioned that he "wants to have a Shiba Inu," which caused Shiba Inu Coin to increase by over 500% on that day. At that time, the trading markets for Shiba Inu Coin only included Uniswap, 1inch, and Hotbit, but now exchanges like MXC, Gate.io, and Poloniex have also listed it.

Although Musk's unexpected actions have led to the rise of Shiba Inu Coin again, most of the community still focuses on the more consensus-driven Dogecoin. Musk is set to host "Saturday Night Live" on May 8, where he previously referred to himself as "The Dogefather."

Dogecoin supporters and investors are likely eagerly anticipating his potentially impactful statements on the show, once again driving Dogecoin to skyrocket.