Cryptocurrency exchange CoinSwitch reported that Shiba Inu (SHIB) was its most traded coin during the April 15 - April 20 period. This shows SHIB's prominence in the Indian cryptocurrency markets, as it had also been the most traded asset on another Indian platform, WazirX, over the previous year. SHIB was followed by Bitcoin (BTC), Dogecoin, Loopring and Ethereum on the CoinSwitch list, and traded 3.26% lower at the time of writing, with a key support level at $0.000010. If this level is broken, SHIB might drop to near $0.0000096. On the other hand, recovery could bring it up to $0.0000106. Over the past 24 hours, SHIB had also recorded a burn of 20,215,360 tokens. The continuous burning of SHIB tokens, due to the reduction in their supply, is one of the stated reasons for the cryptocurrency's growth. Such is the power that SHIB holds in the Indian crypto markets, with 27% of first-time buyers on WazirX last year being SHIB enthusiasts, and 50% of all SHIB tokens transacted on the platform being initiated by users aged between 26 and 40. This speaks to the growing interest in cryptocurrencies in India, and SHIBs potential as a major asset in Indian crypto trading.



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