Shiba Inu (SHIB) gained a lot of attention in 2023 as the crypto token went from just being a meme coin to one providing more utility to its users. That explains why SHIB retained its position and outperformed other major tokens like ETH and XRP in this crypto exchange’s year-end report.
Shiba Inu Was The Second-Most Traded Coin On WazirX
Indian-based crypto exchange WazirX noted in its year-end report that SHIB was the second-most traded token on its exchange. SHIB outranked other major tokens, like the second-largest cryptocurrency, Ethereum, in the process. The only crypto token that outperformed the meme coin on the exchange was Bitcoin.
WazirX also highlighted the “affinity” that its users have become known to have for the meme coin. Notably, SHIB ranked third in the most traded tokens on the crypto exchange in 2022. That year, it came only behind Bitcoin and USDT, with the latter being the go-to stablecoin to facilitate peer-to-peer (P2P) transactions on the network.
Interestingly, Shiba Inu and Bitcoin were the only two tokens that were popular on WazirX throughout 2023. Both tokens were a constant in the crypto exchange’s monthly ranking of the top four most popular tokens on the platform.
Meanwhile, XRP, ETH, TRX, and MATIC closed out the list of the top six most traded tokens on the crypto exchange. XRP was the only unfamiliar face, considering that the other tokens made the list in 2022. XRP’s popularity on the platform began to grow in May, as that was the first time in the year t
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Author: Scott Matherson
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