XRP and DOGE have seen significantly higher trading volumes than Bitcoin on South Korean exchanges, indicating short-term demand, even amidst potential wash trading.
The recent trading frenzy and price surges for XRP and DOGE, driven by U.S. regulatory changes and endorsements from figures like Elon Musk, highlight retail investor sentiment.
XRP's price stability above $1 amidst a trading surge signals potential for further gains, contrasting with Bitcoin's trading patterns.
With XRP and DOGE cumulatively accounting for 30% and 20% of trading volumes on Upbit and Bithumb respectively, this illustrates the shift in market focus.
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