Shiba Inu (SHIB) has taken the lead in trading activities on WazirX for the month of May 2024, surpassing big names like Bitcoin (BTC), Pepe, and Floki in terms of trading volume.
In May 2024, there was a notable shift in the trading landscape on WazirX, India’s top cryptocurrency exchange. Shiba Inu emerged as the most actively traded coin on the platform, outperforming other well-known cryptocurrencies such as Bitcoin (BTC), Floki, and Pepe.
Top Five Traded Coins
Following closely behind Shiba Inu, the second most traded coin on WazirX in May was Bob Token (BOB), a meme coin launched last August as the associated token of the X bot “Explain This Bob.” PEPE claimed the third spot, another meme coin gaining popularity among investors. Rounding out the top five were FLOKI and BTC, with FLOKI securing the fourth position and Bitcoin, the pioneer cryptocurrency, taking the fifth spot.
Shiba Inu’s ascent to the top of WazirX’s trading charts is not an isolated occurrence. The coin has consistently captured the attention of crypto traders in India, dominating the trading activity on the platform in April 2024 as well. This trend signifies the increasing popularity of SHIB among Indian crypto enthusiasts.
Moreover, in December 2023, WazirX recognized Shiba Inu among the most traded tokens on its platform, highlighting the coin’s robust performance throughout the year. SHIB held a prominent position, trailing only behind Bitcoin in the rankings.
Shiba Inu Price Surge and Market Performance
In the past 24 hours, Shiba Inu has witnessed gains exceeding 8%. The coin reached a new daily high of $0.00002592, indicating a strong bullish sentiment in the market. This surge in price follows SHIB’s intraday low of $0.00002365, showcasing a significant recovery from its recent lows.
Market observers, including Bitcoin pundit Jason Williams, are increasingly bullish about SHIB’s prospects in the current bullish market. Williams has even suggested that a rally could propel Shiba Inu’s price by 193,774%, pushing it to $0.05.
Disclaimer: This content serves for informational purposes and should not be construed as financial advice. The opinions expressed in this article are personal views and do not represent The Crypto Basic’s stance. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic bears no responsibility for any financial losses incurred.