Rising Demand of Shiba Inu Cryptocurrency Is Leading Whales To Invest in the Real Japanese Hunting Breed

As demand for Shiba Inu coins increased, cryptocurrency investors, who trust the meme-inspired coin have started considering adopting real Shiba Inu puppies.

Reportedly, a Shiba Inu whale by the name of Seth Johnson has spent $2,500 buying a pup of the Shiba Inu breed and even tried to pay the breeder in the cryptocurrency though the breeder refused to accept crypto. The dog was then called by the name of a cryptocurrency called EverRise, whose price soared after the Bloomberg report was out.

Breeders reportedly revealed that they're struggling with supply of the Japanese hunting dogs due to the increasing demand. Some breeders even blamed Tesla chief Elon Musk, who had recently shared pictures of his dog 'Floki' on Twitter setting off an epic run for the meme coin.

Shiba Inu Coin Crypto SHIB

Reports suggest 150 to 200 applications are being received by a single breeder for an average litter of 3 pups of the Japanese breed.

$SHIB Rallied by Almost 30% in 24 Hours on Saturday

Elon Musk-backed Dogecoin's competitor Shiba Inu is among one of the best performing cryptocurrencies at present. Shiba Inu is a cryptocurrency inspired by Dogecoin ($DOGE).

The leading meme coin has gained momentum in the market as its value increased up to 28 per cent within 24 hours on Saturday leading it to gain back its position in the top ten list once again. $SHIB flipped its rival meme Dogecoin (DOGE) to become the world's ninth-largest cryptocurrency.

Shiba Inu Breed Fetches $25,000 at Auction in China

Recently at an auction in China, an abandoned dog called Deng Deng of the Shiba Inu breed was sold at a whopping $25,000, which is 320 times the price of the initial bid of $78.

Reports further reveal that the auction, which was scheduled for 24 hours, got extended by five hours and had attracted over 450 bidders and over 160,000 views.

SHIB Available to New York Residents for Trading

Moreover, Coinbase on Friday confirmed that the Shiba Inu (SHIB) cryptocurrency is currently available to New York residents to access trading.

Coinbase also added some SHIB trading pairs. "SHIB-EUR & SHIB-GBP order books are now in full trading mode. Limit, market and stop orders are all now available," a tweet on the official Twitter account of Coinbase Pro read.

Meanwhile, Shiba Inu, at the time of publishing, was trading at $0.00005695 and is up +11.01%, while its competitor Dogecoin was trading at $0.2555 and is down -2.18% in the day's trade, and its market cap was $31,211,295,180, according to data acquired from CoinMarketCap.

This article was first published on November 6, 2021