Shiba Inu (CRYPTO: SHIB) — the self-described “Dogecoin (CRYPTO: DOGE) killer” — has flipped Curve DAO Token (CRYPTO: CRV) to emerge as the most traded token by the 1,000 biggest Ethereum (CRYPTO: ETH) wallets.
What Happened: Cryptocurrency whales continue to trade Shiba Inu as the token’s price surged 26.8% in the past 24 hours, as per a tweet by crypto data platform WhaleStats.
JUST IN: $SHIB @Shibtoken had flipped $CRV to be most traded token by 1000 biggest ETH whale wallets
#SHIB price ups 26.8% in the past 24hrs with a current price of $0.00002904
Whale leaderboard: https://t.co/N5qqsCBeXR#ShibArmy #Friendshibs #Shiberse pic.twitter.com/7J6Cg5yp5q
— WhaleStats – the top 1000 Ethereum richlist (@WhaleStats) February 7, 2022
The 1,000 largest Ethereum wallets are worth an average of $154.71 million and have an average of 40,478 ETH, 36 tokens and one non fungible token (NFT).
Shiba Inu currrently ranks third among the top ten cryptocurrency holdings among the Ethereum whales, behind ETH and the FTX Token (CRYPTO: FTT), according to WhaleStats data.
See Also: How To Buy Shiba Inu Coin (SHIB)
Why It Matters: Shiba Inu’s price surge on Sunday comes amid a plan by the cryptocurrency entertainment company Bigger Entertainment to burn tokens on Feb. 14 —Valentine’s Day.
Cryptocurrency whales are continuing to acquire Shiba Inu tokens as burn mechanisms continue to decrease the coin’s supply.
A total of 410.3 trillion tokens have been burnt from the initial supply of one quadrillion tokens, according to ShibBurn data.
The token is also seeing wider mainstream acceptance. Major retailers such as Newegg Commerce Inc. (NASDAQ:NEGG) now accept Shiba Inu as a means of payment.
However, Shiba Inu is down 68.3% from its all-time high of $0.00008845 reached in October last year.
Price Action: Shiba Inu is up 24.3% during the past 24 hours, trading at $0.00002813 at press time.
CurveDAO is down 0.8% during the period to $3.44.
Read Next: This Play-To-Earn Meme Coin Is Up Over 300% Today, Outshining Dogecoin And Shiba Inu
