Shiba Inu Surpasses Bitcoin Ranks as Most Traded Coin in India

Shiba Inu (SHIB) has taken the lead in trading volume on WazirX in May 2024, surpassing popular cryptocurrencies like Bitcoin (BTC), Pepe, and Floki.
May 2024 witnessed a significant shift in trading trends on WazirX, India’s top crypto exchange. Shiba Inu emerged as the most traded coin on the platform, outdoing other well-known cryptocurrencies such as Bitcoin (BTC), Floki, and Pepe.
Top Five Traded Coins
Following Shiba Inu closely, the second most traded coin on WazirX in May was Bob Token (BOB), a meme coin introduced last August as the associated token of the X bot “Explain This Bob.”
PEPE claimed the third spot, another meme coin that has been gaining popularity among investors. FLOKI and BTC rounded out the top five, with FLOKI securing the fourth position and Bitcoin, the original cryptocurrency, taking fifth place.
Shiba Inu’s ascent to the top of WazirX’s trading charts is not an isolated incident. The coin has consistently captured the interest of crypto traders in India, consistently becoming the most traded token on the platform in April 2024 as well. This trend reflects the increasing popularity of SHIB among Indian crypto enthusiasts.
Additionally, 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 particularly close behind Bitcoin in the rankings.
Shiba Inu Price Surge and Market Performance
In the last 24 hours, Shiba Inu has seen gains exceeding 8%. The coin’s price reached a new daily high of $0.00002592, indicating a strong bullish sentiment in the market. This price surge follows SHIB’s intraday low of $0.00002365, signaling a strong comeback from recent lows.
Market observers, including Bitcoin author Jason Williams, are increasingly optimistic about SHIB’s prospects in the growing bull market. Williams has even suggested that a rally could boost the price of Shiba Inu by 193,774%, reaching $0.05.
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