Shiba Inu (SHIB), a popular cryptocurrency with a canine theme, has gained significant attention from crypto traders in India, making it the most traded coin on the WazirX platform in April.
WazirX, the leading crypto exchange, announced this achievement in a recent post, highlighting SHIB’s dominance as the most traded token throughout the entire month.
The data reveals that WazirX traders in India are actively engaging with Shiba Inu more than any other cryptocurrency on the platform. Bitcoin (BTC) ranked as the second-most traded asset on WazirX in April, closely followed by Shiba Inu’s competitors, Dogecoin (DOGE) and Pepe (PEPE), which secured the third and fourth spots respectively.
Interestingly, Ethereum, the second-largest cryptocurrency by market cap, ranked at the bottom of the list. WazirX, however, did not disclose the trading volumes of all the listed crypto assets.
Shiba Inu has rapidly become one of the favorite tokens among Indian crypto traders and holds a significant portion of the trading volumes on India-based exchanges. WazirX has consistently reported on Shiba Inu’s trading dominance in its monthly and yearly reports. In March, SHIB outperformed BTC, PEPE, Floki (FLOKI), and DOGE to become the most traded token on the platform. Throughout 2023, Shiba Inu also secured the second spot as the most traded token on the exchange, with only Bitcoin surpassing it.
WazirX stated that its users have shown a strong preference for SHIB, as evidenced by their trading behavior. It’s worth noting that WazirX listed SHIB on its platform in May 2021, nine months after its launch in the crypto market. Since its listing, Shiba Inu has consistently remained among the top-traded assets on WazirX.
Currently, WazirX supports 294 cryptocurrencies and boasts a 24-hour trading volume of $2.23 million. Notably, Shiba Inu contributes $168,923 to WazirX’s 24-hour volume, making the SHIB/INR pair the third most traded on the exchange.
Please note that this article is for informational purposes only and should not be considered financial advice. The views expressed in this article are the author’s personal opinions and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, and The Crypto Basic is not liable for any financial losses incurred.