News

Shiba Inu zone in Venezuela will be called ‘Shiba Food Park’

TL;DR Breakdown: 

  • The Shiba Zone in Venezuela is being constructed in the state of Bolivar.
  • It will include 10+ shops that will accept SHIB payments.
  • The establishment will be called ‘Shiba Food Park’.
  • Shiba Inu and other cryptocurrencies are being seen as a solution for Venezuela’s hyperinflation.

Venezuela is set to launch the world’s first Shiba Inu zone where all businesses will accept SHIB payments. The establishment is still under construction but we’ve finally received more details. It will be called the ‘Shiba Food Park’, which will include more than 10 shops. It will be located in Bolivar, the largest state in Venezuela. 

Last month, we received updates on social media that there is a dedicated Shiba Zone under construction in Venezuela. The news was shared by the Twitter handler ‘Xanders Shib’, who is a self-proclaimed Shiba Inu millionaire and an advocate for the meme coin in South America. Xanders and his team are building the Shiba Zone to promote the adoption of the meme coin in the country. 

Shiba Inu adoption is surging in Venezuela

Over the last few months, Venezuela has been experiencing a wider adoption of SHIB as a convenient form of payment. Many of its residents and businesses believe that the growth potential of this digital currency can be a solution to the country’s hyperinflation and currency crisis. Hundreds of small businesses such as food trucks and grocery shops are accepting SHIB payments. Venezuela’s international airport is also considering the adoption of SHIB and other cryptocurrencies for booking airline tickets. 

The lower price point of Shiba Inu allowed residents of lower-economy countries like Venezuela to invest in this digital currency. The strong community support behind this crypto and its rapidly growing adoption is building a lot of confidence among investors. Last week, SHIB crossed 1 million holders, a milestone only a few coins have achieved. After Kraken’s listing earlier in the week, almost every major cryptocurrency exchange in the industry has now listed SHIB on its platforms. 

The upcoming Shiba Inu games will also boost the communities confidence. With all the projects and progression happening around the coin, SHIB has become much more than a ‘meme coin’. SHIB is currently trading at $0.00004180. 

This post was last modified on December 3, 2021 8:54 am

Mohammad Shahid

An IT and Cybersecurity graduate with specialized knowledge of cryptocurrency and blockchain, Mohammad joins the Repo elite team. He has worked on several blockchain development projects and is an enthusiastic crypto trader.

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