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Traditional memecoins like Shiba Inu, Dogecoin and Bonk have a major edge according to recent listing trends on Upbit, the biggest exchange in South Korea. DeSpread claims that the South Korean exchange has been cautious when it comes to listing memecoins taking into account only those that have been traded for a minimum of two years.
It is evident that this policy gives preference to established tokens that have been available for a longer period of time such as those on the list that has been provided. It is evident from the list that some of the most well-known memecoins like Dogecoin and Shiba Inu have managed to hold onto their significant market share.
For instance Dogecoin has been listed on Bithumb and Upbit since 2021 whereas Shiba Inu joined these sites in 2023. Due to the current regulatory environment this listing strategy restricts the entry of newer tokens into these exchanges giving these tokens a competitive edge.
By examining the price movements of both Dogecoin and Shiba Inu it can be seen that Dogecoin is presently in an upward trend having recovered from its support levels and is trading at about $0.14. Strong performance suggests ongoing bullish momentum and the recent volume spike suggests renewed interest in the asset. While Shiba Inu is currently trading marginally lower at $0.00001796 it is still exhibiting a consistent upward trend and might be gaining from the same volume increase observed in other memecoins.
Because of the demand from local traders and regulatory compliance this selective listing policy is likely to guarantee that well-known tokens like DOGE and SHIB continue to flourish in the South Korean market.
Newer tokens like Bonk and Pepe (PEPE) are also gaining traction but these limitations present greater challenges. The memecoins that are already listed benefit greatly from this situation which strengthens their market positions.