- The Shiba Inu (SHIB) ecosystem was discussed in face-to-face meetings with officials from the Grand National Assembly of Turkey under the chairmanship of Mustafa Elitaş.
Shiba Inu (SHIB), has experienced a huge rise in popularity since the end of 2021. Nearly 200,000 new investors have joined the ranks of the meme cryptocurrency, which reached one million investors by the end of the year, since the beginning of 2022 alone.
In addition, adoption of SHIB has continued to grow steadily, with the number of key partnerships and platforms where cryptocurrency is used as a payment method recently.
The last of the moves that will help increase the adoption of SHIB came from Turkey. AK Party Group Deputy Chairman and former Minister of Economy Mustafa Elitaş spoke with Shiba Inu Turkey, one of the members of the ‘SHIB army’ in Turkey, about the adoption of the popular meme cryptocurrency and SHIB’s ecosystem.
According to a tweet by Shiba Inu developer Shytoshi Kusama on March 9, Shiba Inu Turkey had a face-to-face meeting with Turkish Parliament officials led by Mustafa Elitaş at a meeting where the SHIB ecosystem was also discussed.
“FANTASTIC NEWS. Global adoption continues to grow! Thank you Mustafa Elitaş for meeting with Shibarmy shibaturkish!!!”
FANTASTIC NEWS. Global adoption continues to grow! #Shibarmy Thank you.@mustafaelitas for meeting with @shibaturkish !!! https://t.co/hslz83DAYY
— Shytoshi Kusama™ (@ShytoshiKusama) March 9, 2022
Trading activity of SHIB with Turkish Lira
In 2021 and 2022, where the Turkish lira depreciates rapidly Shiba Inu (SHIB) and Tether (USDT) Trading activity on Turkish Lira pairings was five times higher than Bitcoin.
Strahinja Savic, head of data and analytics at Toronto-based crypto platform FRNT Financial, told CoinDesk:
“The data shows that despite the instability facing the lira, local traders are still attracted to the exceptional returns associated with cryptocurrencies like SHIB.”
The continued depreciation of the Turkish lira, the increasing adoption of the meme cryptocurrency, and the steady development of the SHIB ecosystem have prompted the Turkish public to invest aggressively in SHIB.
Besides, according to experts, any action taken by the Turkish government after the meeting will be a huge success for the Shiba Inu and its community.
SHIB price
According to CoinMarketCap data, Shiba Inu (SHIB), which lost the trend in the market, is trading at $ 0.0000228, down 5.82 percent during the day and about 12 percent in the last seven days.
The popular meme cryptocurrency has a total market cap of $13.4 billion but is currently facing a fourth straight drop in on-chain transactions.
However, if altcoins experience another bull run in the crypto market, investors may want to watch closely to see if SHIB will return to all-time highs.
In light of the increasing use of cryptocurrencies in the market, there is a possibility that SHIB could return to, and perhaps even surpass, all-time highs in 2022.
In addition, with new users expected to enter the crypto space in the coming years, leading platforms like Robinhood to not list SHIB yet and the market sentiment slowly shifting towards the bullish side, great partnerships made by platofm and all the non-stop developments in the ecosystem, SHIB has reached its previous peak levels this year. He has every chance he should have to return. But all this is still speculative.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.