Dogecoin of the coin giants meme (DOGE) and Shiba Inu (SHIB), emerged as the most traded cryptocurrencies on Indian cryptocurrency exchanges. According to Hindu Business Line reports, Dogecoin represents 13.76% of the platform’s total trading volume on the CoinSwitch Kuber exchange between April and October 2021, while Ethereum occupies 6.06% and Bitcoin 6.04. %.
Among other cryptocurrencies that make up the important volume of operations, Internet Computer (with 5.08%)ICP) and Polygon (4.52%)MATIC) exists. Sharan Nair, COO of CoinSwitch Kuber, says that meme coin projects are in an uptrend, outperforming BTC and ETH:
Interestingly, Dogecoin, a popular cryptocurrency born out of a meme, has rebounded in the last six months, outperforming even mainstream cryptos, Bitcoin and Ethereum.
Indian cryptocurrency exchange giant attributes attention to meme coin communities
Elsewhere, on WazirX, India’s largest cryptocurrency exchange, almost half of last week’s trading volume, Dogecoin descendant of the Shiba Inu, also called the assassin. According to WazirX CEO Naschal Shetty, interest in Shiba Inu comes from the popular community supporting the token. Shetty says:
Shiba Inu’s growth demonstrates the strength of being a community-driven project. In recent months, SHIB has been in the news that it is listed on more exchanges, increasing liquidity and access to the token.
The rise in popularity of Shiba Inu and Dogecoin is mainly due to their activity on social media and the support of celebrities. Kriptokoin.com appearance we transferA series of tweets from Tesla CEO Elon Musk sparked the Dogecoin surge in 2021. Musk looms as a key figure in DOGE’s growth.
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