Shiba Inu (SHIB) has become the most traded cryptocurrency in India in 2024, with 9% of local traders involved in it. Despite the recent price decline, SHIB has seen a 115% gain since the beginning of the year. The development of Shibarium and the token burn mechanism could fuel a new rally. SHIB hit a two-year high in March and became the leader on the WazirX exchange.