This NFT Coin's Popularity With Ethereum Whales Is Continuing: Thanks To Snoop Dogg And Madonna Push?

ApeCoin APE/USD continues to be the most traded cryptocurrency by the 1,000 biggest Ethereum ETH/USD wallets for the fifth straight day.

What Happened: ApeCoin was the most traded token in the past 24 hours, as at press time late Thursday, according to data from cryptocurrency data platform WhaleStats.

The token also stood sixth among the top ten purchased tokens and ranked fifth among the most used smart contracts by the Ethereum whales.

See Also: How To Buy ApeCoin (APE)

Why It Matters: Decentralized organization ApeCoinDAO recently launched ApeCoin as a token for culture, gaming and commerce to build out Web3 efforts. The token is a decentralized project inspired by Yuga Labs’ Bored Ape Yacht Club (BAYC) non fungible token (NFT) project.

ApeCoin retweeted a post by Snoop Dogg that said the rapper and Wiz Khalifa have released a set of eight music tracks as NFTs themed on ApeCoin and BAYC. The collection is titled “Ape Drops 03” An 8th.”

Smoke a Bored 8th . Droppn a special project $APE COIN only @wizkhalifa @BoredApeYC

https://t.co/8JXyIRN3Pm pic.twitter.com/yh8DFrEdj1

— Snoop Dogg (@SnoopDogg) March 24, 2022

Madonna also bought a BAYC NFT for $470,000 and said on Thursday she was "finally" going in on the metaverse.

Price Action: ApeCoin is down 5.2% during the past 24 hours, trading at $13.04 at press time.

Read Next: Are You Bored & Hungry? Entrepreneur Launches Restaurant Brand With Bored Ape Yacht NFT

Image by artur shihman from Pixabay