Dogecoin & Shiba Inu are becoming cryptocurrency alpha dogs in India

Dogecoin and Shiba Inu are gaining massive traction and ranking among the top five traded cryptocurrencies on Indian exchanges.

  • Dogecoin contributed 13.76% to the overall trading volume of CoinSwitch Kuber, which claims to be the largest Indian crypto exchange with over 10 million customers, over the last six months, according to a report by the BusinessLine. In fact, Dogecoin’s trading volume surpassed that of Bitcoin and Ethereum put together during the same period, which contributed 6.04% and 6.06% to the overall trading volume respectively. CoinSwitch Kuber has yet to list Shiba Inu.
  • Over the past week, WazirX has seen Shiba Inu bring in almost 50% of its trading volume, blazing past Bitcoin as the highest traded token. Between April and October, Dogecoin trading volume on crypto exchange BuyUcoin reached US$300 million while Shiba Inu transactions amounted to US$180 million, Shivam Thakral, CEO of BuyUcoin, told Forkast.News. During the same period, while Bitcoin and Ethereum maintained dominance as the top traded tokens, Dogecoin ranked third while Shiba Inu came in fifth in terms of trading volumes.

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