Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Dogecoin (DOGE) continues to lead the crypto market with its 116% surge over the last week. The memecoin\u2019s frenzy has outperformed most to 100 cryptocurrencies and even made DOGE\u2019s price in South Korean exchanges briefly rise higher than global exchanges like Binance. Related Reading: Solana (SOL) Records 3-Year High As Price Hits $220, Is $260 Next? \u2018Kimchi Premium\u2019 Returns Amid Dogecoin Rally Trump’s victory sparked a massive crypto market rally, creating a craze around the leading memecoin Dogecoin. The token’s trading volume increased 157% in the last seven days, driving DOGE\u2019s price from trading below the $0.20 mark to above the $0.40 range. This week, the Dogecoin frenzy arrived in South Korea, eclipsing a significant share of the Korean market. Web3 analyst Bradley Park highlighted that the memecoin had a remarkable $10.6 billion 24-hour trading volume on the Korean exchange Upbit. Based on CryptoQuant data, the analyst pointed out that Dogecoin was the local crypto exchange\u2019s top-traded token, with 32.4% of the total volume as of Wednesday, surpassing Bitcoin (BTC). Moreover, on Tuesday, Dogecoin saw a spike in volume globally, reaching $22 billion in a single day. Upbit accounted for 20.7% of DOGE\u2019s global trading volume, falling second to Binance\u2019s 41.5% share. The memecoin\u2019s spike in Korean demand sparked DOGE’s \u201cKimchi Premium\u201d on Korean top crypto exchanges. \u201cKimchi Premium\u201d refers to the price gap of a cryptocurrency between South Korean and global exchanges. On Tuesday, the DOGE\/KRW trading pair on Upbit and Bithumb briefly surpassed the DOGE\/USDT pair on Binance by 1.5%, recording the largest premium in three months. At the time of writing, Upbit\u2019s DOGE\/USDT trading pair is trading at $0.433, 1.6% above Binance\u2019s $0.426 trading price. DOGE About To Reach The Moon? Dogecoin\u2019s performance has sparked a bullish sentiment among investors. According to crypto analyst Kaleo, the memecoin is \u201cin the process of making the massive impulse move to the new all-time Highs at the early stages of a new bull market that it is known for.\u201d The analyst details that the cryptocurrency makes \u201cswift moves with massive multiples\u201d around 200 days after the Bitcoin Halving, with timing between previous ATHs and the beginning of each move having a \u201csimilar cadence.\u201d Related Reading: Market \u2018Pricing In A Higher Fair Value\u2019 For Bitcoin As Price Discovery Continues The analyst noted that Dogecoin still has \u201ca lot of room to run up\u201d if history repeats itself. He explained that the last time DOGE moved up from its current levels, it surged 65% to above the $0.7 mark in 24 hours. Moreover, he highlighted that the last time the memecoin registered a breakout like this from its BTC pair, it had a remarkable 175% pump toward its previous ATH. Based on this, the analyst forecasted that the long-awaited $1 target for the memecoin will be reached soon. Dogecoin is trading at $0.42, a 9.7% and 114% surge in the daily and weekly timeframes. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":583724,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,10658,1119,26263,10923,89756,1785,7,79600,83625,85699,13841,11587],"class_list":["post-652996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bithumb","tag-btc","tag-crypto-analyst","tag-crypto-market","tag-crypto-trader","tag-doge","tag-dogecoin","tag-dogeusdt","tag-kimchi-premium","tag-memecoin","tag-south-korean-cryptocurrency-exchange","tag-upbit"],"acf":[],"yoast_head":"\n
Dogecoin Frenzy In Korea: \u2018Kimchi Premium\u2019 Returns Amid Rally<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n