Shiba Inu ranks as the most popular asset among first-time buyers on WazirX, one of India’s largest and fastest-growing cryptocurrency exchanges.
The exchange recently issued its report on client behavior for 2022.
According to WazirX, Shiba Inu is the platform’s most well-known asset among novice traders for 2022.
One of the most popular items traded on the exchange in 2022 is the meme coin.
The report was posted today on the exchange’s official blog and Twitter account.
These are some of the report’s key findings: Among first-time buyers, SHIB continues to be the most widely traded asset, followed by Bitcoin (BTC), Tether USD (USDT), Ethereum (ETH), WazirX (WRX), Shiba Inu (SHIB), and Dogecoin (DOGE).
More Insight Into WazirX 2022 Statistics
More details about the 2022 statistics are included in the complete released report information.
In 2022, there were 2,122,925 (2.1M) new sign-ups for WazirX. Shiba Inu (SHIB), which has the most significant market share of any asset and is, therefore, the most well-liked asset among novice traders, was bought by 27% of the exchange’s first-time traders.
Shiba Inu has a market share almost twice as large as Tron (TRX), which comes in second with 11%. BTC comes in third on the list, with 8%.
The survey also revealed that BTC, USDT, SHIB, WRX, ETH, TRX, DOGE, and MATIC were the assets that all customers most often traded.
SHIB is still a favorite among crypto traders in India. According to WazirX’s 2021 report, SHIB was the asset males traded the most on the exchange last year, while BTC was the preferred asset among women.
Growing Adoption of Shiba Inu in India
As Shiba Inu’s popularity soars among Indian traders, the cryptocurrency is being adopted exponentially in the Indian market.
SHIB was identified as the most actively traded token in the Indian cryptocurrency market in October.
WazirX further pointed out that Shiba Inu alone is responsible for around 10% of trading activity on the site.
Another well-known Indian exchange, CoinDCX, disclosed that 5% of trades on its platform are connected to SHIB.
SHIB is well-liked by investors outside of India since it was recently discovered that SHIB is the sixth-largest asset held by the top 100 ETH whales.
Also emphasized are numerous recent transactions involving SHIB whale accumulations, the most recent of which included 1.9 trillion SHIB.
SHIB, down 9.82% in the last week and presently trading at $0.000008356, hasn’t been exempt from the recent market attack.
In the last 24 hours, the asset’s value has dropped by 3.74%.