Shiba Inu: 27% of early crypto buyers bought SHIB in 2022

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Shiba Inu is the most popular cryptocurrency among early buyers in India according to WazirX survey. The second largest memecoin in the world is also enjoying huge popularity among global crypto investors despite market turbulence in 2022.

The year 2022 has been a year of major turbulence and volatility in the cryptocurrency market. Besides bitcoin, some of the top altcoins in crypto have seen corrections in the range of 70-80%.

One altcoin that continues to be on investors’ radar and among the favorites is the Shiba Inu (SHIB) memecoin. The second largest memecoin in the world, SHIB, had a phenomenal bull run last year in 2021 and therefore continues to be among the top picks on investors’ lists.

Shiba Inu has a huge fan base in India where the participation of crypto investors has risen sharply. The country’s largest crypto exchange, WazirX, recently released a client behavior report for the year 2022, noting that Shiba Inu (SHIB) is the most popular asset among early buyers on the WazirX exchange. In addition, memecoin has also ranked among the most traded assets on the exchange.

WazirX posted the report on the exchange’s official Twitter account, giving a full breakdown of new user registrations and their respective transactions on the platform. Highlights from the report note that SHIB is among the most popular cryptocurrencies among early buyers on the platform. Similarly, the most traded assets in sequence are Bitcoin (BTC), Tether USD (USDT), Ethereum (ETH), WazirX (WRX), Shiba Inu (SHIB) and Dogecoin (DOGE).

27% of first time buyers bought a Shiba Inu (SHIB)

The recently published report by WazirX presents additional information on the 2022 statistics of crypto buyers in India. This year, there were 2.1 million new registrations on the WazirX crypto exchange. The report notes that almost 27% of new traders on the WazirX exchange bought Shiba Inu (SHIB). This constitutes the highest market share for a single crypto asset, which also makes it the most popular asset among neophyte traders.

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Some interesting statistics:

2,122,925 new users signed up 27% of early crypto buyers on WazirX bought #SHIBWomen traded more blue coinsWomen traded 20% of top coins traded on the platform, on average

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— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) December 20, 2022

Shiba Inu (SHIB) grabs almost double the market share of Tron (TRX) which is 11%, which is second on the list. Bitcoin (BTC) ranks third on the list with an 8% market share.

WazirX reports also mention the most traded assets by all BTC, USDT, SHIB, WRX, ETH, TRX, DOGE, and MATIC clients. But the popularity of Shiba Inu among Indian crypto buyers is nothing new. The 2021 WazirX report revealed that Shiba Inu was among the most traded assets by Indian men on the stock market last year.

As noted, Shiba Inu was the most popular crypto asset among Indian investors as the popularity of crypto skyrocketed in the country. In October of this year, SHIB was the most traded digital asset in the entire crypto space this year. Besides WazirX, the popularity of Shiba Inu among other exchanges is also high. WazirX competitor CoinCDX reported that 5% of trades on its platform were for SHIB.

Outside of India, the popularity of Shiba Inu in the global crypto space remains intact. As recently reported by Crypto News Flash, long-term crypto holders trust Shiba Inu (SHIB) the most and hold with diamond hands.

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