Shiba Inu (SHIB) and the XRP token, which is linked to Ripple, are among the top three most traded digital currencies on WazirX in June, indicating that Indian cryptocurrency aficionados are quite interested in these coins.
These tokens have been trading side by side with Bitcoin, the top cryptocurrency in terms of market value and trade volume, according to WazirX. In June, the platform’s trading charts were dominated by Bitcoin, SHIB, and XRP, establishing a new trend in the Indian cryptocurrency market.
One of the biggest and most reputable cryptocurrency exchanges in India is WazirX. It provides a wide range of digital currencies for trade and makes it possible to conduct both crypto-to-crypto and crypto-to-fiat transactions. WazirX, a component of the Binance ecosystem, has contributed significantly to the growth of cryptocurrencies in India by providing a frictionless and safe trading environment for its fast expanding user base.
During its peak, the meme coin called Shiba Inu—named after the Japanese dog breed—saw a sharp increase in popularity among Indian dealers. Even though the SHIB token’s value has declined significantly from its high in October 2021, it continues to rank among the most actively traded currencies. Despite having a market valuation of only a little over $4.4 billion as of early July, it has seen significant demand on WazirX.
Despite continuing legal issues in the US, Ripple-affiliated XRP continued to be a dominant competitor. The most actively traded cryptocurrency on WazirX was a digital token with a market capitalization of over $25 billion, demonstrating the expanding variety of the Indian cryptocurrency industry.
