Shiba Inu (SHIB) has emerged as the most traded asset on CoinSwitch, India’s leading crypto exchange, according to recent reports.
The surge in trading volume for SHIB on the platform coincided with the week spanning April 15 to April 20, during which it surpassed Bitcoin (BTC) as the most traded coin.
Shiba Inu’s growing popularity is evident on other Indian crypto exchanges, including WazirX, where it was the most traded asset for the past year.
WazirX’s end-of-year report revealed that 27% of first-time cryptocurrency buyers on the platform purchased SHIB, while 50% of all SHIB tokens traded on the platform were exchanged by men between the ages of 26 and 40.
Additionally, Shiba Inu is also the biggest holding in WazirX’s reserve, as disclosed in its proof of reserve statement at the beginning of the year.
As of writing, SHIB is priced at $0.0000102, down 3.26% in the last 24 hours. Market analysts are closely watching the $0.000010 support level, as a drop below this could potentially push SHIB’s price to add an extra zero. If this happens, SHIB may retest lows near the $0.0000096 level.