Shiba Inu (SHIB) Outperforms Bitcoin and Dogecoin on This Front: Details
TL;DR
- SHIB tops some trading charts for April, surpassing BTC, DOGE, and ETH, showcasing its consistent popularity among traders.
- Analysts like Ali Martinez and Rekt Capital anticipate a potential Shiba Inu bull run, with buy orders placed and bullish predictions suggesting triple-digit price increases.
SHIB’s Solid Achievement
Shiba Inu continues to make the headlines by registering substantial price spikes and achieving numerous advancements.
For example, it topped WazirX’s ranking as the most-traded cryptocurrency for April, leaving Bitcoin (BTC), Dogecoin (DOGE), Pepe (PEPE), and Ethereum (ETH) behind.
Top five traded coins on WazirX in April’24:
$SHIB
Which one did you trade the most? pic.twitter.com/Fc1E76f8Lk
— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) May 3, 2024
This is not the first time the meme coin has topped that ranking. It was the most-traded digital currency on WazirX’s platform in March, surpassing BTC, PEPE, FLOKI, and DOGE. Recall that SHIB was the second-most traded cryptocurrency on the trading venue for 2023.
It is worth mentioning that WazirX is among the leading Indian cryptocurrency exchanges, with over 6 million registered users and monthly trading volume equaling billions of dollars. It is part of the Binance group and serves clients in more than 180 countries.
Recent SHIB Price Predictions
The meme coin’s price has been flashing green for the past few days, with some analysts suggesting that a more substantial rally could be on the horizon. One example is the X user Ali Martinez, who admitted placing buy orders, hoping for a 300% surge.
Rekt Capital and crypto content creator Jake Gagain also outlined bullish predictions recently. The former envisioned a triple-digit price increase, whereas the latter argued that “fading” Shiba Inu “is a major mistake.”
The resurgence of Shiba Inu‘s burn rate and the development of the layer-2 blockchain solution – Shibarium – are two major factors that could positively impact the asset’s value. As CryptoPotato reported, over 81 million tokens were destroyed in the last 24 hours, while the network underwent two essential upgrades.
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