Shiba Inu has achieved a remarkable milestone in India, becoming one of the most traded coins in the country this year, even surpassing Bitcoin.
Kashif Raza, the founder of Bitcoin education platform Bitinning, recently drew attention to this development in a post on X. offers a glimpse into India’s crypto landscape in 2024.
Although Raza initially claimed that the data reflects India’s broader crypto landscape in 2024, further findings show that the statistics were limited to activity on the popular India-based exchange CoinSwitch.
CoinSwitch user activity
What is noteworthy is that the exchange now has 20 million users, 11% of whom are women. These investors were mostly active every day between 9 p.m. and 11 p.m. In addition, most of them are young, about 72% are under 35 years old.
The data revealed interesting facts about user activity, including the most traded asset and the most held token.
Shiba Inu is the most traded token
Shiba Inu (SHIB), the leading dog-themed token, has been ranked as the most traded token on CoinSwitch. The data shows that 9% of CoinSwitch users, or 1.8 million, traded SHIB this year.
Notably, Shiba Inu ranked ahead of Pepe, Bitcoin (BTC), and Dogecoin (DOGE), which were traded by 8% (1.6 million), 6% (1.2 million), and 6% (1.2 million) of CoinSwitch users became.
Other crypto assets such as Tether (USDT), Bonk, Ethereum (ETH), Solana (SOL), XRP and Gala recorded 6%, 4%, 3%, 3%, 3% and 2% respectively. in this category.
Dogecoin is the most held token
Meanwhile, CoinSwitch customers were more inclined to hold Dogecoin than anyone else…
