Top Indian Exchange Ranks Shiba Inu Its Most Popular Coin of 2022

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WazirX disclosed that Shiba Inu is the platform’s most famous asset among neophyte traders in 2022.

WazirX, one of the fastest-growing and largest cryptocurrency exchanges in India, recently published its report on customer behavior for 2022, revealing that Shiba Inu ranks as the most popular asset among first-time buyers on the platform. The meme coin also ranks among the most traded assets on the exchange in 2022.

The report was published today on the exchange’s official Twitter handle and through an official blog post. The highlights of the report include the following: SHIB remains the most popular asset amongst first-time buyers; the most traded assets are Bitcoin (BTC), Tether USD (USDT), Ethereum (ETH), WazirX (WRX), Shiba Inu (SHIB) and Dogecoin (DOGE). 

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The 2022 WazirX Year End report is here:

🏆 Most popular coin among first-time buyers: $SHIB
🏆 Most traded coins: $BTC, $USDT, $ETH, $WRX, $SHIB, $DOGE
🏆 Feature of the year: WazirX Gift Cards

— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) December 20, 2022

Information from the fully published report shares more insight into the 2022 statistics. WazirX saw 2,122,925 (2.1M) new sign-ups in 2022. According to the report, 27% of the first-time traders on the exchange purchased Shiba Inu (SHIB) – the highest market share for any single asset, making it the most popular asset among neophyte traders. Shiba Inu’s market share is almost double Tron’s (TRX), which has 11%, coming second. Third on the list is BTC, with 8%.

Furthermore, the report disclosed that the most traded assets by all customers were BTC, USDT, SHIB, WRX, ETH, TRX, DOGE, and MATIC. SHIB remains popular among Indian crypto traders. WazirX’s 2021 report revealed that SHIB was the most traded asset among men on the exchange last year, with BTC being the favorite among women.

SHIB’s Increasing Popularity in India

Shiba Inu is seeing an exponential adoption rate within the Indian cryptocurrency scene as its popularity skyrockets among Indian traders. In October, it was revealed that SHIB is the most traded token in the Indian cryptocurrency market.

At the same time, WazirX noted that Shiba Inu singlehandedly accounts for about 10% of trading activities on the platform. CoinDCX, another top Indian exchange, revealed that 5% of trades on its platform are related to SHIB.

Besides Indian traders, SHIB is also popular among investors in other jurisdictions, as it was recently revealed that SHIB is the sixth-largest asset held by the top 100 ETH whales. The Crypto Basic has also highlighted numerous recent transactions involving SHIB whale accumulations, the latest of which involved 1.9 trillion SHIB.

Meanwhile, SHIB has not escaped the recent onslaught within the markets, having dipped by 9.82% in the past week, as it currently changes hands at $0.000008356. The asset has plummeted by 3.74% in the past 24 hours.

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