This is probably not an example of a Giffen good. Rather, it’s better categorized as a Veblen good. The increasing consumption of Giffen goods with higher prices is predicted by the standard rational-agent economic theory, and requires the good to be a dominant portion of a consumer’s expenditures. This condition is hard to satisfy, and is typically only found in situations where the price of a staple food increases. Veblen goods, on the other hand, are those that are consumed precisely because of their high price, and are not predicted by standard microeconomic theory.

Thanks for educating me on this! It is super interesting that there is a formal theory behind it.