Shiba Inu is on the rise in India, with trading volume gaining traction recently. With the rise in TV, projections are coming in for SHIB to reach $0.001.
This surge in Shiba Inu’s popularity comes amidst Indian crypto investors favoring altcoin cryptocurrencies over traditional ones like Bitcoin and Ethereum. Shiba Inu is one of the leading altcoins/meme coins on the cryptocurrency market. At press time, the coin is trading at $0.00002672. While SHIB has been down in the past week, many predictions project the token to rebound massively in April. Thanks to the surge in India, this price may reach as high as $0.001.
In a Tuesday post on X, WazirX, India’s largest crypto exchange, shared insights into the top-traded coins on its platform for March 2024. The post revealed that SHIB trumps other popular cryptocurrencies including FLOKI, PEPE and even Bitcoin in India.
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Despite the country’s stringent tax regulations on cryptocurrencies, India has seen a wave of interest in crpto and digital assets. Shiba Inu in particular has captured the attention of traders, commanding a significant portion of the overall trading activity on leading exchanges such as WazirX, CoinDCX, and Zebpay.
Contributions to SHIB’s surge in the country include the launch of the Shibarium network, disappointing performances in traditional stock markets and the devaluation of the Indian rupee. Furthermore, associated meme coins like BONE and LEASH are on the rise as well.