Shiba Inu surpasses Bitcoin and Dogecoin to become the most traded coin on leading Indian exchanges

India’s largest cryptocurrency exchange, WazirX, has announced that the most traded coin in April was the beloved canine-themed token Shiba Inu (SHIB). The exchange highlighted in a post yesterday that SHIB was the most traded token on the platform throughout last month.

Data shows that WazirX traders are engaging more with Shiba Inu than any other crypto asset on the platform. According to the data, the second most traded crypto asset on WazirX in April was Bitcoin (BTC). Bitcoin is followed by Shiba Inu competitors, Dogecoin (DOGE) and Pepe (PEPE), which are the third and fourth most traded coins respectively during the same period.

Notably, Ethereum, the second-largest cryptocurrency by market capitalization, ranked last. As in previous months, WazirX did not disclose trading volumes for all crypto assets on the list.

The Shiba Inu's popularity has skyrocketed in India. The canine-themed token accounts for a significant share of exchange trading volume in India. WazirX actively reports on Shiba Inu’s trading dominance in its monthly and annual reports. In March, Shiba Inu was the most traded token on WazirX, surpassing Bitcoin, PEPE, Floki (FLOKI), and DOGE.

Shiba Inu ranks second in terms of trading volume in 2023, second only to Bitcoin. Commenting on the milestone, WazirX explained that based on past behavior, its users clearly prefer SHIB.

With this in mind, WazirX listed SHIB for trading in May 2021, nine months after the canine-themed token was launched in the cryptocurrency market. Since its listing, Shiba Inu has consistently ranked as one of the most traded assets on WazirX.

WazirX supports 294 crypto assets and currently has a 24-hour trading volume of $2.23 million. Notably, Shiba Inu accounted for $168,923 of WazirX’s 24-hour trading volume, making SHIB/INR the third-most traded pair on the exchange.

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