According to the analytics firm, the market capitalization of the altcoin, which has seen a significant increase in volume, is less than 1/13th of that of Dogecoin (DOGE), the world’s largest memecoin. PENGU’s trading volume has even surpassed DOGE.
According to LookOnChain, this may indicate that South Koreans are accumulating PENGU tokens.
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However, we can say that the PENGU price has also reacted to this surge in trading volume in South Korea. The token, which also features a memecoin, has risen by more than 5% in the last 24 hours. Despite the interest from South Koreans, the overall trading volume has dropped by 7%, which is noteworthy. The PENGU price has increased by 321% in the last month. However, the token is trading 23% lower than its all-time high seven months ago.
*This is not investment advice.
Continue Reading: South Koreans Caused a Boom in Trading Volume for This Altcoin Today
