- SHIB Army Turkey met with the country’s Economic Minister to discuss a possible crypto adoption.
- The meeting came after Turkey’s fiat lira strongly depreciated and after SHIB passed FTT as the second-largest holding by Ethereum whales.
- Ethereum whales have been loading up in SHIB as plans to burn supply grow.
Local members of the SHIB Army met with the Turkish Economic Minister at the Grand National Assembly of Turkey to discuss the adoption of the meme coin in the country.
To what the Shiba Inu holders could consider as a big win, the community had a face-to-face meeting with Economic Minister Mustafa Elitaş to explore how the meme coin can be integrated into Turkey’s financial systems.
Adding to the cheers was a tweet from Shiba Inu’s main developer, Shytoshi Kusama, who shared this “fantastic news” to his more than 750 thousand Twitter followers.
— Shytoshi Kusama™ (@ShytoshiKusama) March 9, 2022
However, neither the Turkish SHIB Army nor the Office of the Minister of Economy further disclosed details regarding the affair. One source reported that a potential reason for this meetup could be the meme coin’s popularity among Turkish citizens.
Notably, this meeting came at a time when the Turkish fiat money lira was strongly depreciating. Due to this continuous loss of value, trading activity in SHIB and Tether (USDT) was five times higher than activity in BTC.
Despite the volatility of the lira, Turkish traders continue to be attracted by potential big gains associated with cryptos, such as SHIB.
Aside from the fiat’s depreciation, the meeting also came after SHIB passed FTX, FTX’s native token, as Ethereum Whales’ second-largest holding.
Sources claimed that Ethereum whales have been loading up on SHIB as initiatives to burn the token supply have been circulating. Earlier this month, Bigger Entertainment CEO Steven Cooper pledged to burn 10% of the supply with the help of the community.
At press time, SHIB’s price ($0.000022) has dipped to 1.88% over the last day, with a 24-hour trading volume of over $709 million.