Mustafa Elitas, Turkey’s Minister of Economy and Deputy Chairman of the AK Party Group, is said to have met with members of the Turkish Shiba Inu ($SHIB) community to discuss the country’s adoption of the meme-inspired cryptocurrency.
Turkey’s Minister of Economy had a face-to-face encounter with a Turkish member of the community, according to a tweet shared by the country’s SHIB group, which was afterwards hailed by Shiba Inu main developer Shytoshi Kusama.
The meeting took place immediately after the meme-inspired cryptocurrency eclipsed the FTX exchange’s native cryptocurrency, $FTT, as the second-biggest holding in the largest Ethereum whales’ portfolios, trailing only $ETH.
Ethereum whales have been stocking up on Shiba Inu
As plans to destroy the meme-inspired cryptocurrency’s supply through multiple initiatives have grown.
In a tweet, Steven Cooper, CEO of bitcoin entertainment company Bigger Entertainment, emphasized that the company is trying to help the meme-inspired cryptocurrency’s community by destroying 10% of its supply. Only 59 percent of Shiba Inu’s initial supply was left in circulation at the time of writing, with over 410 trillion SHIB burned since the cryptocurrency’s debut.
Turkey’s SHIB adoption has increased over time as the lira, the country’s fiat currency, has declined in value. The currency has lost about half of its value against the US dollar in the last 12 months, and has lost over 75% of its value in the last five years.
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