An interesting moment has arrived on the Shiba Inu (SHIB) market. While overall activity is declining, the Korean platform Upbit has nearly matched the global leader, Binance, in trading volumes. The gap between them now stands at a symbolic $110,000, according to CoinGlass.

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

When trading volumes fall by 35%, it usually means that large players have taken a pause. During such periods, local exchanges move into the spotlight. The fact that Upbit has accumulated almost as much liquidity as the giant Binance points to a high concentration of interest, specifically in the Asian sector.

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Almost the entire heatmap is currently red. This does not mean the price is “falling into an abyss.” It signals the dominance of sell orders and generally cautious sentiment. The market has stalled within a narrow corridor of $0.0000059-$0.0000060.

Shiba Inu Volume Heatmap, Source: CoinGlass

We are observing a period of “calm,” where Binance’s traditional leadership is being challenged by activity coming from South Korea. At this stage, the SHIB market is extremely sensitive. With such low overall volume, even a single large trade on Upbit can move the price globally.

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The situation as of March 26 shows that SHIB has ceased to be a purely “Western” meme coin. The center of gravity has shifted to Seoul, and the “kimchi premium” is now the key indicator of where the market may head over the next 48 hours.

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