India celebrates the festival of lights Diwali with fireworks, lamps, sweets and prayers to the Almighty. The festival commemorates the victory of good over evil and light over darkness.
The second wave of coronavirus battered India during April and May 2021. Thousands of people were hospitalized and many lost their lives as the spread failed to come under control. While the country watched in horror as their fellow citizens suffered, Ethereum founder Vitalik Buterin donated $1.5 billion in cryptocurrencies to India, which included 50 trillion Shiba Inu coins.
That is when millennials in India noticed SHIB and days later India’s top crypto trading platform WazirX listed Shiba Inu. Undoubtedly, Shiba Inu rests in the hearts of many Indians as the donations helped the country to steer clear from the second wave and save lives.
India and Shiba Inu triumphed over evil (Covid-19 second wave) and spread light over darkness in the truest sense of Diwali.
Shiba Inu donations is one among the many other instances that helped India at the time of crisis. Indian investors will always regard SHIB with high honour and connect the happenings to the spirt of Diwali.
Indians Crash WazirX in the ‘Fear of Missing out’ on Shiba Inu
When Shiba Inu spiked +900% in October, WazirX experienced heavy traffic as majority of investors wanted to buy Shiba Inu.
The buy and sell orders clashed with each other and many orders didn’t go forward. The app froze and later crashed but was up and running again in a few minutes.
The fear of missing out on possible Shiba Inu gains led to the buying frenzy. A video recorded from WazirX shows the buy and sell orders for SHIB hitting the roof. Check it out below:
WazirX also tweeted an apology to investors for the delay in confirming the orders. ”We’re investigating the delays in WazirX app and website. Team is working on scaling the systems and will update you as soon as it’s fixed,” the tweet read.
India’s New Found Love For Cryptocurrencies
India has the highest number of crypto investors in the world with a staggering 100 million investors. The United States comes at a distant second with approximately 21 million investors.
The Indian government announced in February 2021 that they are forming a crypto regulatory board. The latest information is out that the government will release crypto rules and guidelines in February 2022. Insider reports claim that the government will make trading cryptos legal and place a tax on profits and withdrawals.
Shiba Inu at the time of publishing was trading at $0.00005696 and is down -13.36% in the days trade.