Something noteworthy is happening with Shiba Inu (SHIB) trading. Even though trading activity is generally down, the Korean exchange Upbit is now very close to Binance – the world’s leading exchange – in terms of how much SHIB is being traded. According to CoinGlass, the difference in trading volume between the two is just $110,000.
Numbers of the day:
- Binance: $4.36 million (still the leader, but with only a minimal advantage).
- Upbit: $4.25 million (a powerful surge driven by Korean retail interest).
- Overall decline: SHIB trading volume has dropped by 35% over the past 24 hours.
How Upbit caught up with Binance on cooling SHIB market
A 35% drop in trading volume often indicates that major investors are stepping back. During these quieter times, smaller, regional exchanges tend to become more prominent. The fact that Upbit now has nearly as much trading activity as Binance suggests a strong focus of interest within Asia.
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Looking at the current heatmap, it’s almost entirely red, but I don’t interpret that as a sign of a major price crash. What it *does* tell me is that sellers are currently in control and there’s a general sense of caution in the market. Right now, the price is essentially stuck, trading within a very tight range between $0.0000059 and $0.0000060.
Currently, the market is relatively stable, but Binance is facing increasing competition from South Korea. The SHIB market is particularly fragile right now. Because trading volume is low, even a sizable transaction on Upbit can significantly impact the price worldwide.
As of March 26th, SHIB has expanded beyond its origins as a Western-focused meme coin. Most of the activity now comes from Seoul, and the difference in price between Korean and international exchanges – known as the “kimchi premium” – is now the best sign of where SHIB’s price might go in the next couple of days.
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2026-03-26 20:23