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Shiba Inu (SHIB), Bitcoin (BTC) Rank as Most Traded Assets on CoinSwitch: Details

Sat, 04/22/2023 - 10:28
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Tomiwabold Olajide
Crypto exchange listed top five traded coins on its platform for week
Shiba Inu (SHIB), Bitcoin (BTC) Rank as Most Traded Assets on CoinSwitch: Details
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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.

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.

Shiba Inu (SHIB) Now Largest Crypto Holding on Indian Crypto Exchange WazirX

WazirX 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.

311 Billion Shiba Inu (SHIB) Grabbed by Top Whale as Price Hangs at Key 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.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.