Turkey’s Minister of Economy Mustafa Elitaş met with a local Shib army member to discuss Shiba Inu adoption in the country.
The detailed interaction was focused on discussing Shiba Inu’s ecosystem in the region.
Shiba Inu is constantly gaining momentum in Turkey and has been recently listed on Bitexen, a Turkish crypto exchange.
The soaring success of Shiba Inu seems to be increasing with each passing day, with recent reports of the meme crypto successfully acquiring 200,000 additional users.
However, Shiba Inu is reportedly gaining tremendous momentum in Turkey, where the Turkish Minister of Economy Mustafa Elitaş met with a Shib army member in the region to discuss its potential adoption strategies.
Turkish Minister Of Economy Sheds Light On Shiba Inu Adoption Strategies In The Region
The Shiba Inu adoption is gathering pace in Turkey, according to the Shiba Inu developer Shytoshi Kusama. Kusama took to Twitter to thank Shiba Inu Turkiye, a regional Shib army member, and Mustafa Elitaş, Turkish Minister of Economy, for addressing core essentials related to Shib adoption in face-to-face interaction with the local Shib member.
Shiba Inu Turkiye had an opportunity to interact with Turkish Parliament officials to discuss and assess the Shiba Inu ecosystem in the region. The meeting was chaired by Turkey’s Minister of Economy and Deputy Chairman of AK Party Group Mustafa Elitaş.
The consistent rise of Shiba Inu in the country is often paired with the depreciation of the Turkish Lira, which resulted in investors turning towards Turkish Lira pairings with Shiba Inu and Tether to draw decent profits. According to CoinDesk, trading volume in the bitcoin-Turkish lira currency pair on Binance totaled $918 million in November, less than a fifth the level of the Shiba inu-lira value of $5.26 billion and tether-lira’s $5.58 billion.
“The data shows despite the instability faced by the lira, local traders are still attracted to the exceptional returns associated with coins such as SHIB,” Strahinja Savic, head of data and analytics at Toronto-based crypto platform FRNT Financial, told Coindesk in an email.
The meme currency was recently listed on Bitexen, a Turkish cryptocurrency exchange, enabling Turkish investors to conduct Shib related transactions. The listing of Shiba Inu on Bitexen led to an increase in the number of Shib holders that reached a record 1,155 573 holders. At press time, the meme crypto is trading at $0.0000228, according to Coinmarketcap.