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Shiba Inu (SHIB) tops the trading charts on WazirX for May 2024, surpassing Bitcoin (BTC), Pepe, and Floki in trading volume.
In May 2024, the crypto market witnessed a significant shift in trading patterns on WazirX, India’s leading crypto exchange. Shiba Inu emerged as the most traded coin on the platform, surpassing other notable cryptocurrencies like Bitcoin (BTC), Floki, and Pepe.
Top five traded coins on WazirX in May'24:
🚀 $SHIB
🚀 $BOB
🚀 $PEPE
🚀 $FLOKI
🚀 $BTCWhich one did you trade the most? pic.twitter.com/fQlfhUhRrt
— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) June 5, 2024
Top Five Traded Coins
Following closely behind Shiba Inu, the second most traded coin on WazirX in May was Bob Token (BOB), a meme coin launched last August as the associated token of the X bot “Explain This Bob.”
The third spot was claimed by PEPE, another meme coin that has been gaining traction among investors. Rounding out the top five were FLOKI and BTC, with FLOKI securing the fourth position and Bitcoin, the original cryptocurrency, taking the fifth spot.
Shiba Inu’s rise to the top of WazirX’s trading charts is not an isolated event. The coin has consistently attracted the attention of crypto traders in India, consistently becoming the most traded token on the platform in April 2024 as well. This trend reflects the growing popularity of SHIB among Indian crypto enthusiasts.
Further, in December 2023, WazirX, highlighted Shiba Inu among the most traded tokens on its platform, underscoring the coin’s strong performance throughout the year. SHIB was particularly only behind Bitcoin in the ranking.
Shiba Inu Price Surge and Market Performance
Over the last 24 hours, Shiba Inu has seen gains, exceeding 8%. The coin’s price reached a new daily high of $0.00002592, showcasing a strong bullish sentiment in the market. This price surge comes after SHIB experienced an intraday floor of $0.00002365, indicating a strong comeback from its recent lows.
Market watchers, including Bitcoin author Jason Williams, are increasingly optimistic about SHIB’s prospects in the burgeoning bull market. Williams has even suggested that a rally could drive the price of Shiba Inu by 193,774%, pushing it to $0.05.