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- Shiba Inu is the most actively traded digital currency in India.
- SHIB has outperformed well-known cryptocurrencies such as Bitcoin and Ethereum.
- Shiba Inu gained traction after Vitalik Buterin contributed 50 trillion tokens.
Shiba Inu has been attracting the interest of investors globally, with a notable increase in attention in India. Recent reports indicate that Shiba Inu has emerged as the most actively traded digital currency in India this week, as noted in a tweet by SHIB KNIGHT.
#Shiba Inu Most Traded Asset on Top Exchange in #India, Displaces BTC pic.twitter.com/RsAIIGMHHs
— $SHIB KNIGHT (@army_shiba) April 22, 2023
#Shiba Inu Most Traded Asset on Top Exchange in #India, Displaces This information is corroborated by data from CoinSwitch, one of the largest exchanges in India, which indicated that Shiba Inu claimed the top spot in its ranking of the top 5 traded assets from April 15 to 20. This rise in popularity has positioned Shiba Inu ahead of other prominent cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).
Which of these coins starred in your portfolio last week?#SHIB #BTC #DOGE #LRC #ETH pic.twitter.com/95f7NxDAQm
— CoinSwitch: India’s Largest Crypto App
(@CoinSwitch) April 22, 2023
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The Indian business sector has demonstrated significant enthusiasm for Shiba Inu. This interest stems from the fact that two years ago, Ethereum co-founder Vitalik Buterin donated 50 trillion Shiba Inu tokens to the Indian Covid-19 Relief Fund, which was valued at $1 billion at that time. This action generated considerable excitement around SHIB in the nation.
Shiba Inu Dominates Indian Crypto Market
As a consequence of this exposure, Shiba Inu has captured a substantial portion of the Indian cryptocurrency market and is now the favored digital currency among Indian crypto investors.
WazirX, a leading cryptocurrency exchange in India, previously released an analysis indicating that Shiba Inu was the asset of choice for beginner traders in India in 2022. Furthermore, SHIB ranked as the fifth most traded asset on WazirX during that same year.
These recent findings further emphasize the widespread appeal of Shiba Inu among Indian investors, as it continues to lead the Indian cryptocurrency market.
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