You Need to Invest in Shiba Inu Coin Right Now?

The very Shiba Inu dogs are rapidly rising in popularity as crypto enthusiasts hype the dog's namesake, Bloomberg reported.

 A crypto enthusiast spent $2,500 on a new dog he named after his favorite digital token.

 Mostly today  Breeders told Bloomberg they've struggled to keep up with hundreds of requests per month.

Crypto enthusiasts are pining to buy Shiba Inu puppies as the dog meme coin has surged in market value, according to a report from Bloomberg Businessweek.

An enthusiast who's name is Seth Johnson told Bloomberg's Claire Ballentine that he spent $2,500 on one of the meme-famous pups. He made it known that the breeder, did not take digital currency. He named his new dog after a little-known token called EverRise that he prefers.

Meanwhile, According to the Bloomberg report, he made known that breeders said they are struggling to keep up with the increased demand for Japanese hunting dogs. Pennsylvania's Sandra Rolenaitis partially blamed Tesla chief Elon Musk, who has tweeted photos of his new pup named Floki. One of the tweets sparked an epic run for the coin. (Another meme token also emerged).

Rolenaitis said her shop, "Rodel Shibas," gets 150 to 200 signups for the dogs each month, and some come from families who just want them because of its popularity. But negative aspects about the dogs — such as being related to a 25-pound wolf — often turn some candidates for the door, according to another breeder.

Shiba Inus was ranked number 43 on a list of the most popular dog breeds compiled by the American Kennel Club in 2020, up from number 45 the previous year. Labrador Retrievers and French Bulldogs were ranked #1 and #2 respectively on the list.

The shiba inu coin originally surfaced as a meme from another meme coin: dogecoin. The two are closely competing for spots in the top 10 cryptocurrency rankings. As of Friday morning, dogecoin was at number 9, and shiba inu coin slipped to the number 11 spot, according to data from CoinMarketCap.

Much of the shiba inu coin rally in October — more than 800% — stemmed from large crypto whale purchases, Insider previously reported. Probably retailers have also sparked much interest in shiba inu coins, and hundreds of thousands of them have signed a petition for the Robinhood trading app to add the coin to its crypto exchange.