Friday, December 3

The Shiba: the dog that became popular for a cryptocurrency | Digital Trends Spanish


If you like memes you will surely run into one called “Doge”. This one became popular in 2013 and was based on a photograph of a Shiba breed dog (of Japanese origin) sitting in an armchair.

In the wake of the striking yellow dog in question, the cryptocurrency Dogecoin was launched at the end of the same year, and while it started out as a joke, it ended up being taken seriously.

Meanwhile, over the years, the internet did its thing by viralizing Doge-related content, drawing attention to his particular breed. And in August of last year another cryptocurrency based on that canine breed emerged, which bears the same name: Shiba Inu.

Now, as the price of dog-inspired cryptocurrencies (Dogecoin and Shiba Inu, also called Memecoins) has skyrocketed, so has the demand for puppies of this breed.

While the Dogecoin cryptocurrency remained popular in the middle of this year, it was recently outperformed in market value by the Shiba Inu. This has turned out to be immensely valuable, as even though a coin still costs a tiny fraction of a penny ($ 0.00005485), investors have increased its price nearly 800 percent in the last month.

At the same time, breeders of Shiba dogs in the United States claim that since cryptocurrencies brought this breed to the spotlight, they are seeing their businesses grow more than ever.

Has Elon Musk influenced it?

Billionaire businessman Elon Musk and crypto enthusiast may have played a role in the surge in demand for shiba, as he posted on Twitter in September his latest acquisition: a shiba puppy he named Floki.

Floki has arrived pic.twitter.com/2MiUKb91FT

& mdash; Elon Musk (@elonmusk) September 12, 2021

This publication made people speculate that he himself had invested in the Shiba Inu coin, causing its price to spike and even leading to the creation of more Shiba-related coins that included the name “Floki.” However, Musk has invested only in Bitcoin, Ethereum, and Dogecoin.

Users of Robin Hood in fact they are asking brokers to list the Shiba Inu coin, which already allows the trading of Bitcoin, Ethereum, Dogecoin and Litecoin. This petition it has more than 450,000 signatures.

The popular shiba breed

One of the people who drew attention to this breed from cryptocurrencies is Seth Johnson, who in June bought a puppy for $ 2,500 (because his breeder did not accept cryptocurrencies).

As reported BloombergSeth didn’t know much about dogs until Dogecoin took off, and the most recent hype about the Shiba Inu coin only increased his interest. Johnson, for his part, is a huge fan of the coin called EverRise, so that was the name he gave his new canine companion.

Also, companies like Rodel Shibas, in Pennsylvania, have seen that the demand for their puppies has multiplied. “You have Elon saying he has a shiba, and then it’s a snowball,” said Sandra Rolenaitis, a co-owner of the company, who currently receives between 150 and 200 requests a month for her dogs.

Rolenaitis says that it is impossible to keep up with requests, much less provide a dog to all interested people (the average litter of this breed is three puppies). In addition, they have been forced to remind their customers that it is a living being and not something digital, no matter how much relationship they have with cryptocurrencies.

In fact, sadly many people have no idea about the personality of the breed. Rolenaitis describes them as “the closest thing to a wolf you can get, like a 125-pound dog in a 25-pound package.”

“Sometimes I get a family that only loves them because they are popular. So I have to process them and tell them all the bad things about dogs, and when I tell them all the bad things, they go away, ”Stephanie Abel of Tintown Shibas, a breeder in Ohio, told Bloomberg.

Zennia Barahona, president of NYC Shiba Rescue, compares this trend to the rise of the clownfish after the film’s release. Finding nemo in 2003.

Barahona has also noticed an influx of shiba dogs this year and she attributes it to the cryptocurrency craze colliding with the breed’s notoriously rebellious personality, which in turn makes them less than ideal for many families.

Shiba ranked 43rd on the list of most popular breeds in the world. American Kennel Club in 2020, up from the 45th position the year before. That means that race is still a marginal interest, as is the Shiba Inu cryptocurrency trade today.

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