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Shiba Inu enthusiast LucieShib posted a screenshot showing SHIB as the most traded asset on India's leading crypto exchange, CoinSwitch.
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
The crypto exchange listed the top five traded coins on its platform for the week in a visual chart.
SHIB took the top spot among coins traded on the Indian crypto exchange for the week spanning April 15 to April 20.
Shiba Inu surpassed Bitcoin (BTC), which was in the second spot. Dogecoin, Loopring and Ethereum took the third, fourth and fifth spots, respectively.
The dominance of SHIB trading on Indian crypto exchanges is evident, as Indian crypto exchange WazirX reported SHIB as the most traded asset on its platform in the past year.
According to WazirX's end-of-year report, 27% of first-time cryptocurrency buyers on the platform bought Shiba Inu, and 50% of all SHIB tokens that were "moved" on the platform were traded by men between the ages of 26 and 40.
Tomiwabold OlajideWazirX also holds Shiba Inu as the biggest holding in its reserve, per its proof of reserve disclosure at the year's start.
SHIB price
At the time of writing, SHIB was down 3.26% in the last 24 hours at $0.0000102. All eyes are on the $0.000010 support to hold, as a trip below this key level might risk SHIB adding an extra zero to its price. In this scenario, SHIB might retest lows near the $0.0000096 level.
On the upside, a recovery might bring SHIB back near the $0.0000106 level. Shiba Inu burning continues, as a total of 20,215,360 SHIB tokens were burned through five transactions in the last 24 hours.
Alex Dovbnya
Vladislav Sopov
Dan Burgin