Shiba Inu Dogs Are In High Demand Thanks To Elon Musk, Dogecoin

Jun 29, 2021 0 comments

The Shiba Inu breed of dogs is seeing high demand from dog lovers, courtesy Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk and meme cryptocurrency Dogecoin (CRYPTO: DOGE).

Musk’s announcement Friday on Twitter that his Shiba Inu dog will be named ‘Floki’ sent a wave of excitement among dog lovers and crypto enthusiasts, according to a report by Yahoo Finance. The Shiba Inu dog breed originated as a hunting dog from Japan.

The prices of Dogecoin-inspired cryptocurrencies, Shiba Inu (CRYPTO: SHIB) and Floki (CRYPTO: FLOKI), skyrocketed on Friday following Musk’s tweet. Shiba Inu is a meme coin that brands itself as a “Dogecoin killer.”

The Yahoo! Finance report quoted long-time dog breeders Tom and Sandie Rolenaitis from Pennsylvania as saying that it was initially Dogecoin, the Shiba Inu-themed cryptocurrency, that captured the attention of dog lovers a couple of years ago.

The surge in demand for dogs during COVID-19 accelerated due to the rising popularity of the meme cryptocurrency this year.

The couple reportedly said that at the height of the COVID-19 pandemic, they were receiving nearly 250 applications per month for their purebred Shiba Inu dogs. In a typical year, the couple breeds 2 litters, containing 3 puppies in each.

Sourced from benzinga.com.

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