Shiba Inu Tops BTC and DOGE on Indian Exchange
Release: 2024/05/04 16:57 Reading: 238
In April, the popular canine-themed token Shiba Inu (SHIB) captured the interest of crypto traders in India, emerging as the most traded coin on WazirX.
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The leading crypto exchange announced this in a recent post, highlighting SHIB's dominance as the most traded token on its platform throughout the month.
Shiba Inu Dominates Trading Activity on WazirX
The leading crypto exchange revealed in a recent post that Shiba Inu (SHIB) was the most traded token on its platform throughout the last month. This announcement underscored the active engagement of WazirX traders with SHIB, surpassing all other crypto assets.
Bitcoin Trails Behind, Ethereum at the Bottom
According to the provided data, Bitcoin (BTC) secured the second position as the most traded crypto asset on WazirX in April. Following closely were Shiba Inu's competitors, Dogecoin (DOGE) and Pepe (PEPE), ranking as the third and fourth most traded tokens, respectively.
Interestingly, Ethereum, the second-largest cryptocurrency by market cap, ranked at the bottom of the list. WazirX did not disclose the trading volumes of all crypto assets, maintaining a trend seen in previous months.
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Shiba Inu's Rising Popularity on WazirX: A Favorite Among Indian Traders
Shiba Inu has cemented its position as one of the preferred tokens among Indian crypto traders, commanding a significant share of volumes on India-based exchanges. WazirX has consistently highlighted Shiba Inu's trading dominance in its monthly and yearly reports, showcasing its popularity among users.
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In March, Shiba Inu claimed the top spot as the most traded token on WazirX, surpassing prominent cryptocurrencies like Bitcoin (BTC), Pepe (PEPE), Floki (FLOKI), and Dogecoin (DOGE). Throughout 2023, Shiba Inu maintained its prominence as the second-most traded token on the exchange, trailing only behind Bitcoin. WazirX attributed this milestone to the strong preference of its users for SHIB, evident from their consistent trading behavior.
WazirX listed SHIB in May 2021, nine months after its launch in the crypto market. Since its listing, Shiba Inu has remained a fixture among the most traded assets on WazirX, showcasing its sustained popularity and trading activity.
WazirX, supporting a total of 294 crypto assets, currently boasts a 24-hour trading volume of $2.23 million. Notably, Shiba Inu contributes significantly to WazirX's trading volume, accounting for $168,923 and making the SHIB/INR pair the third most traded on the exchange.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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