Shiba Inu (SHIB) dominates the trading scene on WazirX in May 2024, outpacing Bitcoin (BTC), Pepe, and Floki in terms of trading volume.
May 2024 witnessed a notable shift in trading trends on WazirX, India’s premier cryptocurrency exchange. Shiba Inu emerged as the top-traded coin on the platform, surpassing other prominent cryptocurrencies such as Bitcoin (BTC), Floki, and Pepe.
Following closely behind Shiba Inu, the second most traded coin on WazirX in May was Bob Token (BOB), a meme coin introduced last August as the token associated with the X bot “Explain This Bob.” PEPE, another meme coin gaining popularity among investors, secured the third spot. FLOKI and BTC rounded out the top five, with FLOKI claiming the fourth position and Bitcoin, the original cryptocurrency, occupying the fifth spot.
Shiba Inu’s ascent to the pinnacle of WazirX’s trading charts is not an isolated incident. The coin has consistently captured the interest of Indian crypto traders, maintaining its position as the most traded token on the platform in April 2024 as well. This trend underscores the increasing favor of SHIB among Indian crypto enthusiasts.
In December 2023, WazirX highlighted Shiba Inu as one of the most traded tokens on its platform, emphasizing the coin’s strong performance throughout the year. SHIB was only second to Bitcoin in the ranking.
Shiba Inu has witnessed a price surge and strong market performance in the last 24 hours, with gains exceeding 8%. The coin reached a new daily high of $0.00002592, indicating a bullish sentiment in the market. This surge follows SHIB’s intraday low of $0.00002365, signaling a robust recovery from recent lows.
Market observers, including Bitcoin expert Jason Williams, are increasingly optimistic about SHIB’s prospects in the current bull market. Williams has even suggested that a rally could propel the price of Shiba Inu by 193,774%, pushing it to $0.05.
Disclaimer: This article provides information and should not be construed as financial advice. The opinions expressed in this piece may be personal views of the author and do not necessarily reflect The Crypto Basic’s stance. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic holds no responsibility for any financial losses incurred.