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Shiba Inu Adoption on the Increase: Turkey’s Minister of Economy Examining SHIB. Details

The global adoption of Shiba Inu has recently gained a notable boost after Mustafa Elitaş, AK Party Group Deputy Chairman and Turkey Minister of Economy, had a face-face discussion about the dog-themed meme token, SHIB.

The new development was shared by the Shiba Inu lead developer, Shytoshi Kusama. According to the report, the minister met with Shiba Inu Türkiye, Turkey-based SHIB Army to examine the cryptocurrency.

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Shytoshi Kusama tweeted, “FANTASTIC NEWS. Global adoption continues to grow! Shib army Thank you. Mustafa Elitas for meeting with Shiba Inu Türkiye!!!”

The meeting was held because the trading activity in Turkish Lira pairs with Shiba Inu (SHIB) and Tether (USDT) was more than 5x higher than Bitcoin, in a time when Lira is struggling to regain its lost value.

According to TradingEconomics, in 2021, inflation in Turkey jumped to a 3-year high of 21.31%. Due to this fact, cryptocurrency is seemingly becoming the last resort for the Turkish population to circumvent inflation.

In a conversation with Coindesk, a crypto investor based in Istanbul, Sabri Aygun, said:

“The priority of Turkish citizens is gold and the dollar. They also buy cheap cryptocurrencies like SHIB, VET, XRP because BTC is expensive. Traders in Turkey also use tether as a proxy for dollar exposure. I hold USDT because sending USDT is fast and cheap across different exchanges, also swapping between spot and futures.”

Read Also: 100 Biggest ETH Whales Are Grabbing Shiba Inu Dip; Top 1000 ETH Whales Now Hold 59.2 Trillion SHIB Tokens

So, Shiba Inu was discussed recently by the Turkey Minister of Economy with the Turkey-based Shib Army because of the reputation of the rapidly growing Shiba Inu ecosystem. As mentioned by Aygun, SHIB is one of the top choices of the Turkish population.

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The outcome of the meeting has not been communicated, but the personality involved in the discussion makes it huge for the Shiba Inu community.


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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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