Volatility reigns the crypto-verse. The market has seen trends evolve swiftly, and the spotlight is often on new tokens that seize traders’ attention. Shiba Inu [SHIB] has been making news since its inception. It has even eclipsed stalwarts like Bitcoin [BTC] and Dogecoin [DOGE] in terms of popularity. More recently, it even claimed the title of the most traded coin on WazirX, a prominent Indian cryptocurrency exchange.
WazirX announced Shiba Inu’s unprecedented dominance as the most traded token on its platform throughout April. This further sheds light on the escalating popularity of the meme coin among Indian crypto enthusiasts. Along with this, it also underscores SHIB’s rapid ascent within the nation’s crypto trading milieu.
Despite Bitcoin’s formidable presence, SHIB has managed to surpass the king coin in trading volume. Dogecoin, the OG meme cryptocurrency, paved the way for other meme coins to enter the market. However, the asset took a backseat and trailed behind SHIB, further cementing its position in the Indian crypto market.
Factors Driving SHIB’s Surge in India
SHIB’s surge in India can be attributed to several factors. The network’s playful branding has resonated with a younger demographic. They could be drawn to Shiba Inu’s meme-worthy appeal. Moreover, its comparatively lower price point has made it accessible to a broader audience. This is particularly true with regard to newcomers seeking entry into the space without hefty investments.
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Shiba Inu Weekly Price Prediction
Amidst this, SHIB was trading at $0.0000249, with a daily rise of 1%, at press time. Changelly’s predictions suggest a bullish week ahead. Shiba Inu will potentially propel to a high of $0.00003426 later this week.
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With its rising popularity and optimistic market forecast, SHIB continues to carve a niche for itself in India’s crypto landscape. It promises exciting prospects for investors.