Dogecoin has marked a new milestone by becoming one of the most traded cryptocurrencies on a major cryptocurrency exchange in Korea.
South Korean markets adopt Dogecoin
In clear testimony of The growing popularity and interest of Dogecoin In global markets, the cryptocurrency has recently claimed the title of the second most traded crypto asset in Upbit, South Korea's leading crypto exchange. This development marks a significant step for the doggie-themed cryptocurrency, which has been witnessing a significant uptrend In recent months.
On the cryptocurrency exchange, Dogecoin had notably outperformed prominent cryptocurrencies such as ethereum (eth) and meme coins like Shiba Inu (SHIB), in terms of trading volume. The surge in trading activity has effectively put the spotlight on Dogecoin, potentially reshaping its previous title as a meme currency based on a joke, into a highly sought-after cryptocurrency with a strong ecosystem and community.
Currently, Upbit lists around 192 cryptocurrencies and offers over 300 trading pairs. The exchange has successfully grown to become a prominent crypto platform since its inception in 2017.
Dogecoin's achievement of becoming the second most traded cryptocurrency on Upbit underlines the currency's growing popularity in Korea. As South Korea continues solidify its position as a flourishing crypto hubDOGE is set to further elevate its prominence to achieve widespread adoption in the country.
Possibly with the aim of expanding their services to the vast group of potential cryptocurrency users in South KoreaWith 51.63 million inhabitants, Dogecoin is positioned for immense growth within this rapidly developing market.
bitcoin secures first place in cryptocurrency exchange
While Dogecoin has secured the second position as the most traded cryptocurrency in Upbitbitcoin has easily dominated the doggie-themed meme coin, emerging as the number one traded cryptocurrency on the exchange. btc/bitcoin-price-resumes-upside-why-btc-could-soon-hit-new-ath/” rel=”nofollow noopener” target=”_blank”>bitcoin has had constant momentum since the beginning of the year, reaching new all-time highs and growing in trading volume daily.
Although bitcoin remains the most popular and globally accepted currency, Dogecoin's prominence on Upbit was an unprecedented milestone. The rapid growth of the doggie-themed cryptocurrency presents a potential opportunity to take the top spot, possibly overtaking even bitcoin.
Unlike bitcoin, which requires bitcoin/bitcoin-price-eclipses-72000-5-major-factors/” rel=”nofollow noopener” target=”_blank”>important financial investments Before it can be acquired, Dogecoin offers a more attractive investment avenue with its Lower price per coin, allowing investors around the world, particularly in South Korea, to easily exchange the token.
At the time of writing this article, the Dogecoin price It is trading at $0.1952 per token, reflecting a 4.23% price increase over the past seven days, according to CoinMarketCap.
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DOGE price recovers amid trading frenzy | Source: DOGEUSDT on Tradingview.com
Featured image of Finbold, chart from Tradingview.com
