Indian Coin GARI gains 100% in a week: Here’s why

• GARI airdrop, the Chingari App is also set for the integration of the GARI token in the GARI app on 5 February.
• Social app Chingari allows creators and influencers to make money from their content. This gives them the opportunity to earn both crypto and non-fungible tokens.
• India appears to have accepted crypto via a tax proposal on Tuesday

GARI token has risen more than 100% in the last week, making it India’s first social cryptocurrency token.

According to CoinGecko data for the 24 hours ended March 31, Garicoin has experienced a 20% increase in price and GARI/USD has had an intraday volume record of $31.8 Million. Daily trading volume increased by 78%. GARI is even the most popular. bullish trendOn the USDT pair of crypto exchange Gate.io with more than 160 tweets about the token in the last hour adding to the fact this coin is hot.

GARI/USDT fell to $0.25 on January 24, but rose to $0.63 by February 2022. It trades at around $0.62 currently. Its record high was $0.78 on 18 January 2022.  

Here is a chart for the GARI/USDT combination. Source: TradingView

What makes this relatively unknown token so attractive to the crypto community and attract such a lot of interest?

GARI token rallyed tenfold this Week

Garicoin token’s 100% upside is due to the excitement generated by users of the Chingari App, India’s top social platform with more than 32 million users. 

India is home to 1.38 Billion people. The app has potential for continued growth and price implications for GARI token.

GARI token, which was introduced in late 2021, powers the app and is reportedly moving towards integration with the popular app later in the week. An airdropSince the launch, toward has been ongoing.

The momentum seen in the day could also be down to the crypto community’s reaction to the Indian government’s signal that they may not ban cryptocurrencies after all. This was because the country wanted to tax crypto income, NFTs included, at 30%.

In #IndiaNow, crypto is legal!
And $GARIIndian Coin
This is a very, very new coin. It is listed on many exchanges. I’m jumping into $GARI @GariToken #gari #btc #bitcoin

— Crypto Pasha (@cryptopasasi) February 1, 2022

Celebrity ambassador

GARI token has had a celebrity-like aura since its launch in October 2016. Bollywood superstar Salman Khan was among the celebrities who attended the launch of crypto-focused social media platform Chingari.

In the last two months, there has been a steady increase in content creators. influencersThe blockchain-based platform has attracted many talent owners looking to monetize them, which has increased demand for the GARI token.

NFTs are also contributing to the increase in demand for the coin. Users can earn NFTs and then monetize them using features like play-2-earn.