Meme coins are no longer just a joke. Shiba Inu-themed cryptocurrencies emerged as the most valuable crypto investment for Indians on Diwali. In fact, the Shiba Inu (SHIB) has surpassed DOGE by reaching $40 billion in global market capitalization. But there is more. Metaverse is more in the spotlight after Facebook’s rebranding as Meta. So, what trend is observed in India? Here are the analyzes of domestic stock markets…
BuyUcoin CEO explains why SHIB is in the first place
As Bitcoin, the new “Big B,” approaches its peak prices, Indian investors are starting to warm up. Cryptocurrencies are seen as new investment vehicles to finance the future. According to this trend, Indian investors are trading quite a lot of Bitcoin and altcoins on Diwali. It is possible to get clear answers by looking at the biggest crypto exchanges like WazirX, Unocoin and BuyUcoin. For example, Shivam Thakral, CEO of BuyUcoin, says that Shiba Inu (SHIB) is seen as the most popular cryptocurrency as it consistently delivers promising returns.
cryptocoin.com As we reported, a series of tweets by global leaders, including Elon Musk, helped strengthen the popularity of SHIB. Recently, a change.org petition requested that the Shiba Inu be listed on Robinhood, after which the meme was listed on cryptocurrency WazirX, reaching over $320 million in transactions over the past few days.
Also, in the past week, WazirX has revealed that around 50 percent of its trading volume comes from the ‘Dogecoin Killer’ SHIB. The exchange’s COO, Siddharth Menon, reported that the most traded tokens by volume are Shiba Inu, Loopring, Tether, Bitcoin, Sandbox and WazirX exchange cryptocurrencies.
Metaverse projects prepare for more
Besides popular altcoins and meme coins, Thakral points out that the most traded cryptocurrencies on Diwali, apart from SHIB, are Metaverse project Mana, Dogecoin, Ethereum, and Bitcoin.
Interestingly, November has historically been the best for Bitcoin with an average ROI of 66 percent. Sathvik Vishwanath, CEO and co-founder of the Unocoin crypto exchange, states that Bitcoin remains the “king” when it comes to Indians buying cryptocurrencies.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.