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Shiba Inu lead developer Shytoshi Kusama celebrates as Shiba Inu emerged as the second most traded token on India-based crypto exchange WazirX in 2023.
Shiba Inu’s lead developer, Shytoshi Kusama, has taken to the X (formerly Twitter) to celebrate a major trading milestone SHIB recorded in 2023.
SHIB Shines As Second Most Traded Token on WazirX
For context, As reported by The Crypto Basic on 30th DEC 2023, Shiba Inu recorded a jaw-dropping feat on India-based crypto exchange WazirX after it emerged as the second-most traded asset on the trading platform last year.
The 2023 WazirX Year End Report is in 📝
🚀 Top performing coins by volume:
» #BTC followed by #SHIB🚀 Most traded coins:
» $BTC, $SHIB, $XRP, $ETH, $TRX, $MATIC— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) December 28, 2023
Although the leading India exchange did not mention SHIB’s exact trading volume last year, the report showed that SHIB outperformed top crypto assets like ETH, XRP, MATIC, and ADA.
However, the canine-themed token was ranked behind Bitcoin, according to WazirX’s annual report. Commenting on the development, WazirX mentioned that its users are known for their “affinity towards Shiba Inu,” as seen in previous years.
SHIB and BTC Rank As WazirX’s Top Performing Cryptos
The India-based exchange hailed Shiba Inu and Bitcoin as the top-performing crypto assets by trading volume on its platform. Interestingly, the exchange shared a stat to corroborate its claims.
Out of the top six most traded tokens on WazirX last year, only Shiba Inu and Bitcoin made it to the exchange’s monthly ranking for the most traded crypto assets.
As reported earlier in July 2023, Shiba Inu, Bitcoin, and XRP ranked as the top three most traded assets on WazirX in June.
Shiba Inu Lead Reacts
Reacting to the development, Kusama dropped a “cool face” emoji with the caption, “Shiba Inu, you say…” The lead developer also saluted SHIBArmy for helping the cryptocurrency achieve the groundbreaking milestone.
😎Shiba Inu, you say… #shibainu 😜#shibarmy 🫡 https://t.co/eB1CFDUmz4
— Shytoshi Kusama™ (@ShytoshiKusama) January 2, 2024
Notably, 2023 was not the first time Shiba Inu made it to WazirX’s list of most traded tokens. In 2022, Shiba Inu ranked among the top three most traded cryptos on WazirX. At the time, Shiba Inu took the third position, coming behind Bitcoin and Tether (USDT).
Shibarium’s Launch Bolsters Shiba Inu Adoption
Many people will not be surprised to see Shiba Inu rank as the second-most traded token on WazirX. Shiba Inu has continued to gain widespread popularity following the launch of numerous projects, like Shibarium.
Shibarium is the cryptocurrency’s L2 blockchain that has processed nearly 245 million transactions since its inception in August.
As a result of increased Shibarium transactions and fees, the team behind the cryptocurrency incinerated 33.8 billion SHIB tokens in multiple transactions.
These burn efforts have helped to reduce SHIB’s hefty supply, thus attracting the attention of crypto investors.