Shiba Inu coin (SHIB) has been getting new owners in 2022 after hitting the one million holder mark at the end of 2021. The adoption of the meme token continues to increase. In a new series of events, the Deputy Chairman of AK Party Group, and Minister of Economy for Turkey, Mustafa Elitas, discussed SHIB adoption with a SHIB army member from Turkey.
Shiba Inu Türkiye had a face-to-face discussion with the officials from the Parliament, chaired by Mustafa Elitas. During the meeting, the SHIB Ecosystem was discussed and addressed.
The Turkish fiat currency, the Turkish Lira, saw a rapid depreciation while this development occurred. As a result, the Turkish Lira pairings with Shiba Inu and Tether traded more than five times higher than Bitcoin.
In 2021, Lira fell against the dollar, going to historic lows. In 2022, Lira has fallen 5%, adding to the devaluation of the currency.
The Turkish officials seem to be interested in the growing adoption of the token as the SHIB ecosystem sees a slow development in Turkey. If the Turkish government decides after the meeting, it would be an enormous achievement for the Shiba Inu community.
Shiba Inu Performance
Shiba Inu (SHIB) has a market capitalization of $12.469 billion. The crypto trades at $0.000023, down 6.41% for the day and down 9.7% in the last seven days. The crypto is facing a continuous decline in on-chain transactions.
The crypto market saw a blood bath after Russia launched a full-scale invasion of Ukraine, but the conditions improved in some days. The western allies also fear that Russia could use the crypto market to escape the financial and economic sanctions imposed as it has a large number of Bitcoin miners. The cryptocurrencies fell again on Thursday after seeing some rise.
Shiba Inu coin (SHIB) still trades better paired with Lira than the most popular cryptos like Bitcoin (BTC) or Ethereum (ETH).
