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A closely followed bitcoin analyst has revealed he invested in the meme-inspired cryptocurrency Shiba Inu ($SHIB), despite rival memecoins Dogecoin ($DOGE) seeing a significant rise after Tesla started accepting it as a payment method for merchandise.

As CryptoGlobe reported, Tesla’s DOGE payments feature went live with the company allowing specific products such as its “cyberwhistle,” its “Giga Texas” belt buckle” and its “cyberquad” four-wheeler for kids to be sold for DOGE.

On Tesla’s Dogecoin support page , the firm notes it only accepts DOGE as a payment method and that it “cannot receive or detect any other digital assets.” It asks users to ensure they are using DOGE when purchasing as sending “any other digital assets may result in the assets being lost or destroyed.” Notably, Pentoshi chose to invest in Shiba Inu at a time in which rumors claiming it will be listed on Robinhood (NASDAQ:HOOD) in February have helped its price move up.