Shiba Inu Becomes the Most Traded Cryptocurrency in 2024
Shiba Inu is now the top most traded cryptocurrency in India in 2024, reported the country’s leading trading platform WazirX. SHIB outpaced Bitcoin to become the most traded token in March last month. The dog-themed token topped the list of buyers as it spiked nearly 280% in the 30 days.
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SHIB skyrocketed in price from a low of $0.000009 to a high of $0.00004 in just two weeks last month. The token delivered stellar returns to investors who took an entry position early this year. Below is the top traded cryptocurrency in India in March 2024, according to data provided by WazirX.
- Shiba Inu (SHIB)
- Bitcoin (BTC)
- Pepe Coin (PEPE)
- Floki
- Dogecoin (DOGE)
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Shiba Inu (SHIB) Top Traded Cryptocurrency in India
Surprisingly, four out of the five most traded cryptocurrencies in India are meme coins. Only Bitcoin stands apart from the rest being the second most traded cryptocurrency in the country. The rise in Bitcoin investments comes after it rallied and hit a new all-time high of $73,737.
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Investors in India made the most out of Bitcoin and Shiba Inu’s run despite the government levying a 30% tax. Data shows that around 100 million people in India have invested in cryptocurrencies between 2021 to 2024. When WazirX listed SHIB on its platform in May 2021, the exchange crashed due to high volumes of trade.
Even after three years, SHIB still commands the highest buyers be it in the bear or bull markets. The interest in accumulating Shiba Inu tokens has barely dipped in three years making it the only cryptocurrency with a buying pressure throughout.
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The official SHIB page on X tweeted out the achievement thanking the Indian people for buying the cryptocurrency. “SHIB was one of the hottest coins on WazirX India in March! The SHIB Army is growing strong in India. Namaste!”
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