- Shiba Inu is the most popular cryptocurrency among first-time buyers in India as per the WazirX survey.
- The world’s second-largest memecoin also garners massive popularity among global crypto investors despite the market turmoil of 2022.
The year 2022 has been a year of major turbulence and volatility in the cryptocurrency market. Along with bitcoin, some of the top altcoins in crypto have faced corrections to the tune of 70-80 percent.
One altcoin which continues to be on investors’ radar and among the favorites is memecoin Shiba Inu (SHIB). The world’s second-largest memecoin SHIB had a phenomenal bull run last year in 2021 and thus continues to be among the top choices on investors’ lists.
Shiba Inu has a huge fan base in India where investor participation in crypto has been on a steep rise. The country’s largest crypto exchange WazirX recently published a report on customer behavior for the year 2022 noting that Shiba Inu (SHIB) is the most popular asset among first-time buyers on the WazirX exchange. Besides, the memecoin has also ranked as one of the most-traded assets on the exchange.
WazirX published the report on the exchange’s official Twitter handle giving a complete breakdown of new users’ sign-ups and their respective trades on the platform. The highlights of the report note that SHIB is among the most popular cryptocurrencies among first-time buyers on the platform. Similarly, the most-traded assets in sequence are Bitcoin (BTC), Tether USD (USDT), Ethereum (ETH), WazirX (WRX), Shiba Inu (SHIB) and Dogecoin (DOGE).
27% of first Time Buyers Bought Shiba Inu (SHIB)
The newly published report by WazirX presents further insights into the 2022 stats of India’s crypto buyers. This year, there were 2.1 million new sign-ups on the WazirX crypto exchange. The report notes that nearly 27% of the first-time traders on the WazirX exchange purchased Shiba Inu (SHIB). This constitutes the highest market share for any single crypto asset also making it the most popular assets among neophyte traders.
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Some interesting stats:
💡 2,122,925 new users signed up
💡 27% of the first-time crypto buyers on WazirX bought #SHIB
💡 Women traded more blue chip coins
💡 Women traded 20% of the top coins traded on the platform, on average— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) December 20, 2022
Shiba Inu (SHIB) grabs almost the double market share to that of Tron’s (TRX) which is 11%, which is second on the list. The comes Bitcoin (BTC) occupying the third spot on the list with an 8% market share.
The WazirX reports also mention the most-traded assets by all customers BTC, USDT, SHIB, WRX, ETH, TRX, DOGE, and MATIC. But Shiba Inu’s popularity among Indian crypto buyers is nothing new. The WazirX report from 2021 revealed that Shiba Inu was among the most-traded assets by Indian men on the exchange last year.
As said, Shiba Inu was the most popular crypto asset among Indian investors as crypto popularity skyrockets in the country. In October this year, SHIB was the most-traded digital asset in the entire crypto space this year. Apart from WazirX, Shiba Inu’s popularity among other exchanges is also high. WazirX competitor CoinCDX reported that 5% of the trades on its platform are for SHIB.
Apart from India, Shiba Inu’s popularity in the global crypto space remains intact. As recently reported by Crypto News Flash, long-term crypto holders trust Shiba Inu (SHIB) the most and are holding with diamond hands.
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