Shiba Inu (SHIB) has added almost 200,000 new cryptocurrency fans since reaching the one million user milestone at the end of 2021. However, the growth is not limited to user numbers. It has also become notable how electronic money has permeated many people’s daily routines.
Adoption increases everywhere.
Mustafa Elitaş, vice president of the AK Party Group and minister of economy for Turkey, recently discussed the uptake of the SHIB cryptocurrency in the nation. In particular, the authority spoke with experts and members of the Turkish Parliament. The complete SHIB ecosystem was covered and presented at this seminar. Lead developer at SHIB Shytoshi Kusama stated that “global adoption continues to rise.”
What explains the slight increase in SHIB’s visibility in Turkey’s financial landscape? Finding the solution is not too difficult. This, according to experts, is a result of the Turkish lira’s sharp devaluation in 2021 and 2022 as a fiat currency. Due to the significant change in the data in this case, investors are now considering alternative strategies.
- “Local traders are always drawn to the exceptional returns associated with coins like SHIB,” Strahinja Savic, head of data and analytics at Toronto-based platform FRNT Financial, told CoinDesk via email.
The shiba inu (SHIB) cryptocurrency is steadily but gradually making its way into the Turkish banking system. In fact, a lot of individuals are starting to use it. Furthermore, using this digital asset to carry out transactions is permitted by the government.
