Shiba Inu Becomes The Most Traded Cryptocurrency in India

Vignesh Karunanidhi
Shiba Inu Becomes The Most Traded Crypto in India

According to a recent tweet on X by leading Indian exchange WazirX, Shiba Inu emerged as the most traded token on its platform in March.

WazirX disclosed that Shiba Inu outperformed even the leading cryptocurrency, Bitcoin (BTC), in terms of trading activity among its users. This remarkable feat has not only solidified SHIB’s position in the Indian crypto market but has also reignited optimism within the Shiba Inu community.

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Shiba Inu Outshines Rivals in the Meme Coin Industry

Interestingly, Shiba Inu’s dominance on WazirX extended beyond its rivalry with Bitcoin. The token also outperformed its competitors in the meme coin industry, including Pepe, Floki, and even the most prominent meme coin, Dogecoin (DOGE). Despite its prominence in the meme coin sphere, Dogecoin ranked at the bottom of WazirX’s top five most traded cryptocurrencies for March.

The Shiba Inu ecosystem team quickly acknowledged this significant achievement, with the official SHIB X handle emphasizing SHIB’s feat and praising the community’s resilience. The tweet read, “SHIB was one of the hottest coins on WazirXI in March! The Shib Army is growing strong in India, Namaste!”

While SHIB’s trading volume on WazirX over the past day reached an impressive $427,317, trailing Bitcoin by less than $40K, the token’s global presence is equally noteworthy.

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The Road to $0.0001: Shiba Inu’s Potential for Substantial Price Surges

The recent trading activity on WazirX has rejuvenated optimism among SHIB enthusiasts, who believe that the token could be poised for substantial price surges in the near future. Last month, the meme coin market experienced astonishing breakthroughs, with many tokens, including Shiba Inu, re-entering price ranges last seen during the 2021 bull run.

On March 5, SHIB regained the $0.00004534 level for the first time since the previous bull run. At press time, SHIB is trading at $0.00002619. To reach the highly anticipated $0.0001 mark, the token would need to rally by 270%. While this may seem like a daunting task, it is not impossible for Shiba Inu, given its ability to engineer a more ambitious 378% rally in just eight days last month.

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As SHIB continues to dominate trading activity on platforms like WazirX and maintain a strong global presence, the prospects for significant price appreciation appear increasingly promising.