Shiba Inu (SHIB) beats Bitcoin and Dogecoin on this front: details

TL;DR

SHIB tops some April trading charts, outperforming BTC, DOGE and ETH, showing its continued popularity among traders. Analysts such as Ali Martinez and Rekt Capital anticipate a potential bull run for Shiba Inu, with buy orders placed and bullish predictions suggesting triple-digit price increases. Solid achievement by SHIB

Shiba Inu continues to grab the headlines by recording substantial price increases and achieving numerous breakthroughs.

For example, it topped WazirX’s ranking as the most traded cryptocurrency for April, beating out Bitcoin (BTC), Dogecoin (DOGE), Pepe (PEPE) and Ethereum (ETH).

Top five most traded coins on WazirX on April 24:

🚀 $SHIB
🚀 $BTC
🚀 $DOGE
🚀 $PEPE
🚀 $ETH

Which one did you trade with the most? pic.twitter.com/Fc1E76f8Lk

— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) May 3, 2024

This is not the first time that the meme currency occupies this ranking. It was the most traded digital currency on the WazirX platform in March, surpassing BTC, PEPE, FLOKI and DOGE. Remember that SHIB was the second most traded cryptocurrency on the trading site in 2023.

It is worth mentioning that WazirX is among the top Indian cryptocurrency exchanges, with over 6 million registered users and a monthly trading volume that equates to billions of dollars. It is part of the Binance Group and serves customers in more than 180 countries.

SHIB Recent Price Predictions

The price of the meme coin has been flashing green for the past few days, with some analysts suggesting that a more substantial increase could be on the horizon. An example is X user Ali Martínez, who admitted to placing buy orders, hoping for a 300% increase.

Rekt Capital and crypto content creator Jake Gagain also recently outlined bullish predictions. The former predicted a triple-digit price increase, while the latter argued that “fading out” the Shiba Inu “is a big mistake.”

The resurgence of the Shiba Inu burn rate and the development of the Layer 2 blockchain solution, Shibarium, are two major factors that could positively affect the value of the asset. As reported by CryptoPotato, more than 81 million tokens were destroyed in the last 24 hours, while the network underwent two essential upgrades.

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