Cryptocurrency enthusiasts in India are showing significant interest in Shiba Inu (SHIB) and Ripple-affiliated XRP coins, with both making the list of the three most traded digital currencies on WazirX in June, according to a tweet from the exchange.
WazirX has seen these tokens trading hand-in-hand with Bitcoin, the leading cryptocurrency in terms of both market capitalization and trading volume. Bitcoin, SHIB and XRP topped the trading charts in June on the platform, marking a new trend on the Indian cryptocurrency market.
WazirX is one of the largest and most trusted cryptocurrency exchanges in India. It offers a wide variety of digital currencies for trading and facilitates crypto-to-crypto transactions as well as transactions between crypto and fiat currencies. A part of the Binance ecosystem, WazirX has played a significant role in India's cryptocurrency surge, supporting the rapidly growing user base with a seamless and secure trading experience.
Shiba Inu, a meme coin named after the Japanese breed of dog, saw a steep rise in popularity among Indian traders during its heyday. However, it remains among the top traded coins even after the SHIB token lost much of its value compared to the October 2021 peak. Despite its relatively small market capitalization (just over $4.4 billion as of early July), it has been in high demand on WazirX's platform.
Ripple-affiliated XRP also remained a strong player despite its ongoing legal troubles in the United States. The digital token with a market cap of over $25 billion held its own as one of the most traded currencies on WazirX, further highlighting the growing diversity of the Indian cryptocurrency market.
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