Dogecoin's Ascendancy in Korea

Korean traders are diving into the Dogecoin market, propelled by recent political changes in the US. Dogecoin's price has surged by 78% since Donald Trump's election victory, leading to a noticeable price premium on local exchanges such as Upbit and Bithumb compared to global exchange Binance.

Current Market Dynamics

• DOGE trades at a 1.5% premium on Upbit and Bithumb.
• The market is witnessing heightened trading volume with a 24-hour volume of $8 billion, reflecting 57% of Korea's total market cap for stocks.

Speculative Trends and Future Predictions

Historically, spikes in Korean demand often align with speculative behaviors at market peaks. Although excitement is palpable, the premiums observed are lower compared to previous market highs.

Options traders are betting on DOGE surpassing the $1 mark by January. Last week, a significant order was noted for 10K DOGE call options at this strike price.

As the crypto market evolves, traders will closely monitor how these political events influence Dogecoin's trajectory.