XRP and Dogecoin See Surge in South Korean Trading as Trade War Thaw Sparks Crypto Gambles
Risk appetite returns with a vengeance—South Korean traders pile into meme coins and altcoins as geopolitical tensions ease. Retail investors flip from ’safe’ assets to high-volatility bets, because nothing says ’calculated risk’ like chasing the crypto casino’s shiniest distractions.
XRP volumes spike 40% on local exchanges while Dogecoin whales make conspicuous moves. Analysts shrug—’When the trade war cools, the degens get bold.’ Meanwhile, traditional finance watches from the sidelines, clutching their spreadsheets and muttering about ’irrational exuberance.’
The pattern mirrors previous euphoric retail phases in Korea’s crypto market, often dubbed the “Kimchi premium” era, where local investors aggressively chased high-volatility assets.
Korean crypto markets have long served as a bellwether for retail sentiment.
The MOVE also coincides with a broader market rally fueled by a massive $1 billion short squeeze last week as overleveraged positions were forcibly closed amid surging prices.
“We subscribe to the view that this was a classic market short-squeeze against an exceptionally one-sided market,” Fan added. “There’s no evidence of significant ETH ETF inflows, suggesting this was purely a native positioning event.”
The enthusiasm in Korea also reflects improving geopolitical sentiment. U.S. and Chinese officials on Monday said they WOULD heavily cut tariffs on some goods to 30% from 145% for 90 days, following weeks of speculation on what the two superpowers would do.
“Investors are less apprehensive about crypto as U.S.-China trade talks find resolution and rate cuts appear more likely,” said Jeff Mei, COO of BTSE. “If the Fed signals a dovish pivot next month, it could push bitcoin past all-time highs and re-ignite lending and investment in the U.S. economy.”
While traders continue to watch for follow-through on institutional ETF flows and upcoming central bank guidance in June, the short-term momentum suggests that altcoin speculation is leading the current leg higher.
