In keeping with a press release by cryptocurrency on-chain evaluation agency LookOnChain, the Pudgy Penguins (PENGU) altcoin is experiencing a surge in quantity on South Korea’s largest cryptocurrency trade Upbit.
In keeping with the analytics agency, the market capitalization of the altcoin, which has seen a major enhance in quantity, is lower than 1/thirteenth of that of Dogecoin (DOGE), the world’s largest memecoin. PENGU’s buying and selling quantity has even surpassed DOGE.
Chart evaluating PENGU’s buying and selling quantity with DOGE’s.
In keeping with LookOnChain, this will likely point out that South Koreans are accumulating PENGU tokens.
Nevertheless, we will say that the PENGU worth has additionally reacted to this surge in buying and selling quantity in South Korea. The token, which additionally incorporates a memecoin, has risen by greater than 5% within the final 24 hours. Regardless of the curiosity from South Koreans, the general buying and selling quantity has dropped by 7%, which is noteworthy. The PENGU worth has elevated by 321% within the final month. Nevertheless, the token is buying and selling 23% decrease than its all-time excessive seven months in the past.
*This isn’t funding recommendation.
