SHIB Turns Out to be the Most-Traded Token

According to data from WhaleStats, Shiba Inu has topped the list of the most-traded tokens in the world, jumping past Curve DAO Token to top the list of the most traded tokens among the biggest Ethereum wallets in the world. This data is taken from the 1000 largest crypto wallets, indicating that whales are gobbling up Shiba Inu as the token’s price rose almost 27% in the past 24 hours. While SHIB is still trading at a fraction of a penny, it remains popular as investors search for upside in a shaken marketplace. All told the 1000 largest Ethereum wallets are worth an average of $154.71 million, holding just over 40,000 Ethereum, more than 30 unique tokens, and 1 NFT. Why is Shiba Inu’s price rising? Bigger Entertainment announced on Sunday that it plans to burn tokens on Valentine’s Day, forcing whales to pick up supply before it drops amongst these burning efforts. Plus, acceptance is rising as Newegg Commerce ($NEGG@US) now accepts the token as a method of payment. At press time, Shiba Inu was up more than 22%, trading at a fraction of a penny on a rising market cap and a dramatic increase in volume.