Tesla Inc chief Elon Musk seems to have the crytoworld in his palm. His influence in controlling the prices of the coins is currently unrivaled. Elon announcement that his company will accept bitcoin for the purchase of his famous electric cars was a major factor in the rise of the coin to the $60,000 mark.

In September 2021, Musk's tweet of his new Shiba Inu puppy Floki's picture had pumped the price of the floki-themed cryptocurrencies. Some of the assets witnessed a sharp raise of nearly 1,000% within a few hours. This is making many investors smiling to the bank in a very volatile environment.  

Shiba with a current market value of $12 billion is gaining more popularity in the cryptocurrency world as US-based Coinbase last month had said that its customers can trade, send, receive, or store Shiba Inu (SHIB) on its platform.

Shiba prices continue to raise and some investors has made returns of over 1000% of their original investment.

Musk, the self-proclaimed 'Dogefather', has also been responsible for pumping doge and a lot of other cryptocurrency prices by sharing materials relating to them on his social media.

Investing in cryptocurrency is a risky business and should be done with caution.