According to a major exchange, the most traded cryptocurrency is Shiba Inu, not Bitcoin or Dogecoin.
Even after all this time has passed since its establishment, the Shiba Inu community has shown to be nothing short of remarkable. The popularity of the canine-themed currency has led to an increase in its trading volume across several exchanges, as it has even surpassed other coins in terms of volume.
Bitcoin stood out from the crowd as the only cryptocurrency not associated with memes. Pepe (PEPE), which had gained a lot of traction following a 500% month-over-month increase, came in third. Following that, we have Floki (FLOKI), yet another meme cryptocurrency that had a phenomenal March. Finally, Dogecoin came in at number five, demonstrating that it has maintained its position as the market leader among meme currencies despite the influx of new, flashy coins.
The research clarified the current market outlook of cryptocurrency investors, particularly those based in India. Meme coins seem to be attracting more investors than more established projects with practical applications, like Ethereum, as they account for the vast majority of volumes.
SHIB Extends Its Wings Widely
The meme currency has continued to gain exchange listings throughout the weak market and into the bull market, thanks to the continuous acceptance of Shiba Inu. Not long ago, Bitcoin.com was one among the exchanges that listed Shiba Inus.
Official listing of SHIB for trading on the platform was announced on March 25 by the Australian branch of the exchange. Australia is one of the world's most rapidly expanding cryptocurrency markets, and this helps get the word out about Shiba Inu to potential new investors there.
At this time, Shiba Inu can be found on every major exchange, including Binance, Coinbase, and Bitstamp. Listing SHIB may frequently be an excellent way for tiny exchanges to generate cash via fees, so they aren't left out. This is because meme currency trades occur at a high volume, which means that exchanges earn a lot of money.
