- Memecoin Shiba Inu became the most traded asset by the top 100 ETH holders in January.
- Shiba Inu knocked out PREP tokens to take the position and beat WETH in February this year.
Popular memecoin and Dogecoin rival Shiba Inu has been making headlines for notable achievements since the beginning of 2023. Recently, Shiba Inu scored another victory in the cryptocurrency market, making Shib the most traded token among the top 100 Ethereum (ETH) wallets.
The report revealed in a recent tweet that the Shiba Inu has overtaken the Perpetual Protocol (PERP), making it the most traded token among the top 100 ETH whales on January 31, Crypto. From Twitter user Whalestats.
📰 Just In: $SHIB @Shiv token inverted $PERP Top 100 Most Traded Tokens #ETH whale
Check out the top 100 whales here: https://t.co/N5qqsCAH8j
(and Hodor $BBW To see the top 5000 data!)#SHIB #PERP #whalestats #baby whale #BBW pic.twitter.com/bKGJIxa2qn
— WhaleStats (tracking virtual whales) (@WhaleStats) January 31, 2023
When Shiba Inu achieved this feat, coin market capitalization indicated that trading volume for the day exceeded $323 million. Meanwhile, rival Perpetual Protocol (PERP) posted just over $51 million in trading volume.
Similarly, Whalesats reported on Feb. 1 that Shiba Inu has sacked Wrapped Ethereum (WETH), an ERC-20 compatible version of Ether, becoming the most traded token among the top 1000 whales. .
📰 Just In: $SHIB @Shiv token inverted $PERP Top 100 Most Traded Tokens #ETH whale
Check out the top 100 whales here: https://t.co/N5qqsCAH8j
(and Hodor $BBW To see the top 5000 data!)#SHIB #PERP #whalestats #baby whale #BBW pic.twitter.com/bKGJIxa2qn
— WhaleStats (tracking virtual whales) (@WhaleStats) January 31, 2023
This achievement understandably caused a wave of excitement among the people. Shiba Inu supporters and community members. With continued Shiba Inu burning and continued growth of the network, Shiba Inu adoption is expected to skyrocket this year.
Shiba Inu’s popularity rises as new milestones are reached each day
Demand for memecoin is growing rapidly as more investors and traders turn to Shiba Inu. This is currently reflected in the holding of the largest Ethereum (ETH) whale account.
As WhaleStats reported on January 30, the top Ethereum (ETH) 500 whale accounts hold the most Shiba Inu tokens in their wallets.
With $581,857,477 of SHIB coins held in these whale accounts at the time the report was created, Shiba Inu has earned this position, beating out seven other major altcoins in the market.
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Behind Shiba Inu are BEST, MATIC, LOCUS, BIT, LINK, UNI and MANA tokens. All these altcoins made up a total of $1.122 billion. report.
All the growth that Shiba Inu is recording could definitely affect the price of memecoin in the near future. As demand and trade increase, the Shiba Inu will become even more scarce.
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