Shiba Inu seems to be the Cryptocurrency Star in India in this Diwali season

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cryptocurrency star in India

As we all know, Diwali is the festival of lights and many Indians will make investment and also they will buy gifts. Usually, the yellow metal is more demand on India, people used to buy gold in this special occasion. This has been the trend in India for years, even centuries. And this has   been changed or altered in this 2021. Yeah, for this Diwali season, Shiba Inu has become the cryptocurrency star in India.  Many young Indians have invested their money in collecting virtual tokens.

Being the oldest and largest digital currency in the world, it has recorded the sale of $ 66,974.77 (Rs 50.09), in the last week. While analyzing this, experts suggest that this might be due to the new trend among the Indians to invest their money in Bitcoin.

One of the Chief Executive officer of digital coins stated, “We have seen around 35,000 users buying Shiba Inu recently, which accounts for a 385% increase in Shiba Inu investors. Also, the Shiba Inu INR markets saw 5X increase in exchange volume.” He also added that in all trading volumes were pegged at about $600 million across platforms in India.

Top exchanges have told that when Indians started buying digital coins, instead of yellow gold, the new rise has begun. Many investors continued buying cryptocurrency in the months of September and October. Even though, the meme coins are inspired by jokes on social media with DogeCoin, Shiba Inu has become the most popular crypto currency globally.

The statement from another one CEO of Cryptocurrency exchange stated, “Meme coins and altcoins could gain investors’ interest if they continue to deliver handsome returns.”

Read Now: Planning to Invest in Bitcoins?

He also continued that, “It’s really happy to such rise in the investment of Shiba Inu Coins, but we advised the users that they should be very careful while investing in such cryptos. They shouldn’t put all their eggs in one basket. Being the 8th largest crypto in the world, there is a 5x increase in Shiba Inu trading since the beginning of the price surge. And this is really happy news for marketers, but at the same time, they should be more vigilant & tricky in making their investment in multiple assets.”

Based on the data received from exchanges, the most of the investors have not liquidated their investments but are putting in more money, hoping for further highs.

There are close to 15 million crypto investors in India, holding digital assets worth 15,000 crores, according to figures compiled by Indian cryptocurrency exchanges. All the large cryptocurrency exchanges have seen at least a doubling in trading and investment in the past few months.

With all these, marketers are hoping that many Indians are going to become crorepatis during this Diwali Seasons, after investing their money in Shiba Inu Coins.

So, why are you waiting for? Invest your money in Shiba Inu Coins in this Diwali season and become a cryptocurrency star in India! To get daily updates on Cryptocurrencies, Subscribe our YouTube Channel & stay tuned with BulkQ!