Shiba Inu token, the most popular memecoin after Dogecoin – has now become the most traded coin in the top one thousand Ethereum wallets. Shiba Inu replaced the Curve DAO Token (CRV) as the most popular coin trade in the whale Ethereum wallets each of which holds US$145 million on average.
Those top 1000 Ethereum “whale” wallets have US$155 million on average in a mix of ETH cryptocurrency, various smaller tokens, and an NFT.
The Shiba Inu price skyrocketed nearly 50% in the past 24 hours and its increased trading volume in the so-called “whale wallets” somewhat explains that huge jump. Granted, crypto is on an upwards trajectory after the price crash that began late last year, with Bitcoin nearing the US$44,000 mark after falling to the US$35,000 support during the big selloff a few weeks back.
Various companies like like Newegg, GameStop, Petco, Lowe’s, Bed Bath & Beyond, and AMC Theatres, accepting SHIB as a form of payment which adding to the coin’s trading popularity.
This week 57 million SHIB Tokens were burned and over 410 Trillion which is more than 41% of the total coin have been burned till date. Bigger Entertainment aims to burn about a billion tokens during the festivities, thus making the SHIB quantity in circulation scarcer which has historically contributed to rapid price gains.
Shiba Inu is currently trading at $0.00003148 nearly 4.8% down in the last 24 hour, the trading volume also decreased by 42%, according to the CoinMarketCap.
Read More:
[…] by /u/Ambitious_Anaconda [link] […]