‘Dog coin’ increased by nearly 800% in 1 month, family members rushed to adopt Shiba Inu puppies – LLODO

As the virtual world grows more and more difficult to distinguish from everyday life, it is not difficult to understand the Shiba Inu cryptocurrency craze driving the trend of adopting the Shiba Inu breed.

While Dogecoin, a digital currency created from a mock-up of a Shiba Inu dog in 2013, became popular in the summer, recently the capitalization of the same coin, Shiba Inu, has skyrocketed. This coin sounds like a joke but is actually worth a lot, as investors have pushed the price up nearly 800% in the past month even though the price of 1 coin is still quite low.

Virtual and real fever: Dog coin increased by nearly 800% in 1 month, family members rushed to adopt Shiba Inu dog - Photo 1.

Behind the explosive growth is part of the “effort” of billionaire Elon Musk. His recent tweets about the new Shiba Inu dog – named Floki, have led many to speculate that he has invested in the coin, driving the price up and even the “dog coin” Floki also. born. Robinhood users are also gathering more than 450,000 signatures, calling on the company to allow trading of Shiba Inu coins.

Seth Johnson, an IT worker in northern Mississippi, is one of the new owners of a Shiba Inu puppy, which he bought for $2,500 in June. He didn’t know much about this dog until Dogecoin became famous. and the recent explosive growth of the Shiba Inu. Johnson is a backer of the lesser known coin – EverRise. He also uses these names for his dog Shiba.

However, although the virtual world is gradually becoming more popular, many people are still concerned about this trend. Claire Ballentine – Bloomberg Opinion contributor, takes her dog to a dog park in New York, she always sees at least 1 Shiba Inu dog there along with dozens of other puppies bought during the modern era. Translate. For her, cryptocurrencies have existed everywhere, from music, fashion, fast food, now… dogs.

When the “dog coins” became popular, people also seemed to be excited to see the Shiba Inu puppies. Allyson Kazmucha, director of engineering programs in San Jose, said: “Every time I walk my dog, people will come up to me and ask if this is a Doge, and then ask to take a picture.” After that, Kazmucha also decided to invest in Shiba Inu because it was so… famous.

Meanwhile, the “collision” of the cryptocurrency world with real life has affected some small-scale breeders. Sandra Rolenaitis, co-owner of Shiba Inu breeding shop, said: “Elon Musk said he raised Shiba Inu and everything exploded.”

Virtual and real fever: Dog coin increased by nearly 800% in 1 month, family members rushed to adopt Shiba Inu dog - Photo 2.

Rolenaitis says she currently receives about 150-200 applications for dog adoptions each month. She can’t even answer all of her customers’ questions, let alone sell puppies. On average, a Shiba Inu mother dog can give birth to 3 pups in a litter.

Stephanie Abel, a breeder in Dover (Ohio), said: “Sometimes people just want to adopt because they’re famous. So I have to tell them about the bad points of the dog and then they do too. give up.”

What is happening is similar to the story in Walt Disney’s “101 Dalmatians” released in 1996. In which, dogs are given as Christmas gifts. The number of puppies in pet shelters spiked, as families realized that dalmatians often bite and don’t like children.

According to Bloomberg, this strange trend may be similar to the idea of ​​​​the “metaverse”. It’s a 3D world where people can work, socialize and shop through AR. The formation of a metaverse that combines cryptocurrency, blockchain, digital games, and NFTs will be a slow process and in the early stages.

Refer to Bloomberg


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