Shiba Inu, originally created to trump Dogecoin as the number #1 memecoin, has come far but not without support from high profile individuals involved in the Industry like Vitalik Buterin, a prominent co-founder of Ethereum who helped burn 50% of the circulating supply of SHIB(Shiba Inu’s native token). Shiba Inu has also been recently listed on Coinbase, which also boosted its price by a decent amount.
Not to forget the DogeFather himself who has caused every memecoin to skyrocket and motivated others to be developed.
This happened only moments after his tweet. At most, it can take a few hours, but generally, his tweets take effect within minutes. His recent tweet about naming his Shiba Inu, Floki, caused it to spike to $0.0000074, according to CoinMarketCap right after undergoing a dip. Due to his acknowledgment of the spike, it is not clear whether he wanted Doge or Shiba Inu to climb, after all, he is a staunch supporter of Doge and has not endorsed SHIB yet. Currently, SHIB is priced at $0.0000088 with a circulating supply of 394,796,000,000,000 SHIB.