- Shiba Inu emerged as the most traded cryptocurrency on WazirX for March 2024, surpassing Bitcoin and other altcoins.
- SHIB’s market capitalization stands at $15.91 billion, placing it 12th among active cryptocurrencies listed on CoinMarketCap.
- The current price of SHIB is $0.000027, with support at $0.00002573 and resistance at $0.00002729.
In March 2024, Shiba Inu (SHIB) became the highest-traded cryptocurrency on the Indian exchange WazirX. This attainment represents a significant transition in investor attention, making the memecoin more popular than Bitcoin and other altcoins on the platform.
WazirX’s report released on April 2 also showed that a sizable number of investors chose Shiba Inu, demonstrating its rising demand in the cryptocurrency market.
SHIB, as a coin that started as a fun competitor to Dogecoin in August 2020, has been growing considerably. At present, Shiba Inu trades at a price of $0.000027 at a $15.91 billion market capitalization. This would make it sit 12th among the 9,406 active cryptocurrencies on CoinMarketCap.
In addition, SHIB has seen a support level of $0.00002573 and a resistance level of $0.00002729 in the past 24 hours. Its all-time high was reached on Oct 28, 2021, which leaves the present price at 69.62% down.
The success of Shiba Inu is not only about its trading volume. The coin ecosystem has grown to include the metaverse ecosystem and the Shibarium blockchain. SHIB domains are for community members. These developments enhance the overall adoption and usage of the memecoin in the digital asset arena.
The demand for cryptocurrency, particularly among Indian investors, is high. In December 2022, SHIB became the most dominant trading volume on WazirX’s platform, with 27% of the first-time crypto users.
Another fascinating item on WazirX’s list of the top-traded cryptocurrencies is Bitcoin, Pepe, FLOKI, and Dogecoin, which depicts the varied interests of crypto investors. Shiba Inu’s rise to the top illustrates its strong market presence and the growing involvement of investors with memecoins in the cryptocurrency industry.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
