Shiba Inu was the most traded token on leading Indian exchange WazirX in March, with the recent feat revitalizing prospects of a push to the $0.0001 price target.
In a recent post on X, WazirX disclosed that Shiba Inu emerged among the most traded cryptocurrencies on its platform for March. The firm disclosed five digital assets its users engaged with the most for the last month. Interestingly, Shiba Inu topped the chart.
Shiba Emerged as Hottest Coin on WazirXI
According to the revelation, WazirX users traded Shiba Inu much more than they engaged with the leading cryptocurrency, Bitcoin (BTC).
Top five traded coins on WazirX in March'24:
🚀 $SHIB
🚀 $BTC
🚀 $PEPE
🚀 $FLOKI
🚀 $DOGEWhich one did you trade the most? pic.twitter.com/ENCCWQ4RNV
— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) April 2, 2024
Other coins that featured on the ranking include Shiba Inu’s rivals in the meme coin industry Pepe, Floki, and Dogecoin (DOGE). Notably, Dogecoin ranked at the bottom of the top five despite being the most prominent crypto in the meme coin sphere.
This disclosure from WazirX has caught the attention of the Shiba Inu ecosystem team. Remarking on the development, Shiba Inu’s official X handle emphasized SHIB’s feat and praised the community’s resilience: “SHIB was one of the hottest coins on WazirXI in March! The Shib Army is growing strong in India, Namaste!”
$SHIB was one of the hottest coins on @WazirXIndia in March! The Shib Army is growing strong in India 🇮🇳 Namaste! #ShibArmy #shib https://t.co/ukASslAssa
— Shib (@Shibtoken) April 2, 2024
Shiba Inu Volume on Exchanges
Over the past day, Shiba Inu recorded a trading volume of $427,317 on WazirX, trailing Bitcoin by a margin of under $40K. Globally, Shiba Inu ranked as the 17th most traded cryptocurrency, with a total volume reaching $910,062,491.
Binance emerged as the primary exchange for Shiba Inu trading, generating a volume of $203,664,581 on the USDT pair alone. Other notable exchanges where Shiba Inu saw significant trading activity include Coinbase, OKX, and Bybit.
Can Shiba Inu Claim $0.0001 with Increased Volume?
The recent feat in India has rejuvenated optimism of substantial price surges for Shiba Inu. Last month saw astonishing breakthroughs for meme coins. Many meme-inspired tokens like Shiba Inu re-entered price ranges last witnessed in 2021. For instance, SHIB regained $0.00004534 on March 5 for the first time since the last bull run.
On that day, SHIB sold for a low of $0.00002622. With a recorded volume of $16.01 billion that day, Shiba Inu soared by 72.92% to the intraday peak of $0.00004534.
Meanwhile, eight days before this rally, Shiba Inu traded at a low price of $0.000009483. This represents an astonishing 378% gain in about a week.
At press time, the token sells for $0.00002727. To attain $0.0001, SHIB must rally by 266.7%. Interestingly, this required percentage growth is not impossible for Shiba Inu, considering that it engineered a more daring 378% rally in eight days last month.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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