Shiba Inu (SHIB) has taken the lead in trading on WazirX in May 2024, surpassing big names like Bitcoin (BTC), Pepe, and Floki in terms of trading volume.
May 2024 saw a notable shift in trading trends on WazirX, India’s premier crypto exchange. Shiba Inu emerged as the top traded coin on the platform, outshining other prominent cryptocurrencies such as Bitcoin (BTC), Floki, and Pepe.
The top five most traded coins on WazirX in May were dominated by Shiba Inu, followed closely by Bob Token (BOB), a meme coin linked to the X bot “Explain This Bob.” PEPE claimed the third spot, with FLOKI and BTC rounding out the top five, securing the fourth and fifth positions, respectively.
Shiba Inu’s ascent to the top of WazirX’s trading charts is not a solitary occurrence. The coin has consistently captured the attention of Indian crypto traders, maintaining its position as the most traded token on the platform in April 2024 as well. This trend underscores SHIB’s growing popularity among Indian crypto enthusiasts.
Moreover, in December 2023, WazirX highlighted Shiba Inu as one of the most traded tokens on its platform, highlighting the coin’s strong performance throughout the year. SHIB was positioned just behind Bitcoin in the rankings.
Shiba Inu has experienced a price surge and impressive market performance, with gains exceeding 8% in the last 24 hours. 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 strong recovery from recent lows.
Market observers, including Bitcoin expert Jason Williams, are increasingly optimistic about SHIB’s potential 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 content is for informational purposes only and should not be construed as financial advice. The opinions expressed in this article are solely those of the author and do not necessarily reflect The Crypto Basic’s views. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not liable for any financial losses incurred.