Upbit Matches Binance in SHIB Spot Volume as Korean Traders Drive Meme Coin Surge

The Shiba Inu cryptocurrency has seen a surge in activity on South Korea's Upbit exchange, matching Binance's daily spot trading volume of $5.29 million for its respective SHIB pairs.

This parity is remarkable as it shows that one domestic platform can rival a major global crypto exchange in liquidity for a meme coin like Shiba Inu.

The sudden concentration of activity highlights the aggressive participation of Korean traders in SHIB, even though the token remains a small part of Upbit's overall business, representing only 0.41% of total turnover.

The surge coincided with unusually large capital movements around the Korean market, with one major local player accumulating 361 billion SHIB before sending test transfers to Upbit and Korbit.