In a noteworthy growth for the cryptocurrency trade, the highest meme coin Dogecoin (DOGE), has grow to be essentially the most traded altcoin on South Korea’s largest change, Upbit.
DOGE Attracts Main Consideration In South Korea
Dogecoin has claimed the title of the second most traded crypto on the favored South Korean change Upbit, in a transparent show of the token’s skyrocketing reputation and attraction in international markets. DOGE has noticeably eclipsed different distinguished cryptos like ether (ETH), Ripple’s XRP, and Solana (SOL) by way of buying and selling quantity. This growth is kind of notable for the canine-themed cryptocurrency, which has registered a strong rally in current months.
In cryptocurrency circles, South Korean merchants are infamous for driving euphoric rallies on cash. Moreover, the Asian nation has emerged as one of many largest markets for crypto with a younger, tech-friendly inhabitants. With its vibrant assist for cryptocurrencies, Korea’s market serves as a yardstick for traits and adjustments within the international buying and selling sentiment.
Dogecoin’s progress from a mere joke to a big contender within the cryptosphere has been nothing wanting outstanding. The distinguished doggy-themed crypto appears well-positioned for great progress inside this quickly evolving market.
Dogecoin is at present priced at $0.19, down 6% on the day amid a crypto market downturn, per data from CoinGecko. The crypto stays a far cry from its all-time excessive value of $0.73, posted in Could 2021 on the peak of the crypto bull market.
Bitcoin Dominates Upbit
Notably, Bitcoin, the biggest token by market cap, stays essentially the most traded crypto on Upbit. BTC has been on a gradual uptrend for the reason that starting of 2024 amid anticipation and the next approval of practically a dozen US-based spot Bitcoin ETFs. Final month, the main crypto rocketed to a brand new all-time excessive above $73K because the ETFs noticed report inflows and buying and selling volumes.
Though Bitcoin stays the world’s hottest and internationally accepted crypto, Dogecoin’s rising fame on Upbit was fairly uncommon. Given DOGE’s fast progress, it wouldn’t come as a shock to see the top-ranking meme coin prime Bitcoin on Upbit.
