Shiba Inu SHIB/USD — the self-described “Dogecoin DOGE/USD killer” — has emerged as the most traded cryptocurrency by the 1,000 biggest Ethereum ETH/USD wallets in the past 24 hours, as at press time late Wednesday.
What Happened: Shiba Inu was also ranked third among the top ten holdings of the Ethereum whales, with an average holding amount of $13.60 million, according to data from cryptocurrency data platform WhaleStats.
See Also: How To Buy Shiba Inu Coin (SHIB)
Why It Matters: Ethereum whales appear to be making major investments in the meme cryptocurrency, which aspires to be an Ethereum-based alternative to Dogecoin.
It was reported last week that Shiba Inu has re-emerged among the ten most purchased tokens by the 1,000 biggest Ethereum whales.
Companies such as Newegg Commerce Inc. NEGG, GameStop Corp. GME and Nordstrom Inc. JWN now accept Shiba Inu as payment for their products and services.
Price Action: Shiba Inu is up 0.5% during the past 24 hours, trading at $0.00002335 at press time.
Read Next: Biden Signs Crypto Executive Order: What Does It Mean For The Market?
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