The demand for Dogecoin in Indian cryptocurrency exchanges has increased significantly in recent times. Due to this there has been a huge increase in traffic on these platforms. On Wednesday, Doge / INR Trading of Binance company WazirX had to slow down their system due to record traffic. The price of Dogecoin has risen significantly in recent times.
The demand for Dogecoin has increased a lot in recent times at the Indian cryptocurrency exchange.
Doge / INR Trading of WazirX had to slow down their system due to record traffic.
Dogecoin volumes on CoinSwitch Kuber have jumped 200 percent on a monthly basis.
Of this, 1300 per cent boom has come only in the last 2 weeks.
The world-wide craze for Dogecoin, a cryptocurrency that started as a joke, has reached India. The cryptocurrency, which began as a meme of Japanese dog breed Shiba Inu, was backed by Tesla CEO Elon Musk and has increased 10 times in the last 3 months. On Thursday, its market cap reached nearly $ 80 billion and became the fifth largest cryptocurrency in the world.
The demand for Dogecoin in Indian cryptocurrency exchanges has increased significantly in recent times. Due to this there has been a huge increase in traffic on these platforms. On Wednesday, Doge / INR Trading of Binance company WazirX had to slow down their system due to record traffic. It soon became a trend that #WazirX Scam started trending on Twitter. Users started complaining about the completion of Doge trades.
Dogecoin volumes on the CoinSwitch Kuber, invested by Sequoia Capital and Tiger Global, have risen 200 per cent on a monthly basis. Of this, 1300 per cent boom has come only in the last 2 weeks. Dogecoin volumes and prices are at peak levels worldwide. The reason for this is that Musk is going to appear in a US TV show on 8 May. He indicated that he could talk about Dogecoin in it. This is the reason why retail investors are vying for investment in Dogecoin. The number of active traders on WazirX jumped 123 percent in April. On other platforms such as CoinDCX, their number has also increased rapidly.
WazirX founder Nischal Shetty has said that the platform is being refurbished on May 8, given the possibility of a huge increase in traffic. On Wednesday, traffic could be double or triple that day. Shetty said that Dogecoin worth Rs 600 crore has been traded on his platform in the last 24 hours. The average daily volume on CoinSwitch Kuber has been Rs 100 crore for the last two weeks. Most Indian crypto exchanges have listed this token. However, despite the huge demand from investors, ZebPay has stayed away from it.
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