Bullish Trends Emerge in Cryptocurrency Market

加密貨幣市場出現看漲趨勢

Following the November election results, the anticipated 2024 bull run has commenced, with Dogecoin (DOGE) and XRP leading the charge internationally. On-chain data from CoinGecko indicates that DOGE and Ripple's XRP have surpassed Bitcoin in certain Asian markets, particularly South Korea.

11 月選舉結果公佈後，預期的 2024 年多頭市場已經開始，狗狗幣 (DOGE) 和 XRP 在國際上處於領先地位。 CoinGecko 的鏈上數據表明，DOGE 和 Ripple 的 XRP 在某些亞洲市場（尤其是韓國）已經超過了比特幣。

In South Korean cryptocurrency exchanges like Upbit and Bithumb, trading volume for XRP and Dogecoin (DOGE) now significantly exceeds that of Bitcoin (BTC). This market frenzy has fueled a rapid surge in the prices of these two tokens within the cryptocurrency market.

在 Upbit 和 Bithumb 等韓國加密貨幣交易所，XRP 和狗狗幣 (DOGE) 的交易量現在明顯超過比特幣 (BTC)。這種市場狂熱推動了加密貨幣市場中這兩種代幣價格的迅速飆升。

Dogecoin and XRP Drive Memecoin Surge

狗狗幣和 XRP 推動 Memecoin 激增

According to CoinGecko, XRP and DOGE accounted for up to 30% of trading activity on Upbit, South Korea's prominent cryptocurrency exchange, and over 20% on Bithumb over the past 24 hours. This is significantly higher than Bitcoin, the traditional leader, reflecting a surge in demand for these meme tokens within the country.

據 CoinGecko 稱，在過去 24 小時內，XRP 和 DOGE 佔韓國著名加密貨幣交易所 Upbit 交易活動的 30%，佔 Bithumb 交易活動的 20% 以上。這明顯高於傳統領導者比特幣，反映出國內對這些迷因代幣的需求激增。

However, some of this volume could potentially be attributed to wash trading, a practice involving automated programs that repeatedly trade a token to create an illusion of an active market.

然而，其中部分交易量可能歸因於清洗交易，這種做法涉及自動化程序，反覆交易代幣以製造活躍市場的假象。

Upbit currently leads in XRP dollar trade volumes across all global exchanges in the past 24 hours, including Binance and Coinbase. Binance and Coinbase continue to hold the top positions for DOGE trading volumes globally.

目前，Upbit 在過去 24 小時內在全球所有交易所（包括 Binance 和 Coinbase）的 XRP 美元交易量中處於領先地位。 Binance 和 Coinbase 繼續佔據全球 DOGE 交易量的榜首位置。

Both coins have exhibited strong performance in recent weeks. Data shows that both tokens have appreciated by over 100% in the past 14 days, with their futures products reaching yearly highs.

這兩種代幣最近幾週都表現強勁。數據顯示，過去14天內，這兩種代幣的漲幅均超過100%，其期貨產品創下年度新高。

US Regulatory Landscape Impacts Crypto Markets

美國監管環境影響加密貨幣市場

South Korean traders have a history of fueling bullish token rallies, contributing to buying pressure and influencing cryptocurrency prices.

韓國交易員有著推動看漲代幣反彈、加劇購買壓力並影響加密貨幣價格的歷史。

XRP's recent gains commenced last week as the evolving regulatory environment in the United States boosted growth in tokens linked to businesses formerly hindered by Securities and Exchange Commission (SEC) actions.

XRP 最近的上漲始於上週，因為美國不斷變化的監管環境促進了與先前受到證券交易委員會 (SEC) 行動阻礙的業務相關的代幣的成長。

DOGE, meanwhile, has experienced a surge following a Republican victory in the United States, prompting renewed promotional efforts by tech magnate Elon Musk, who was designated to lead the proposed Department of Government Efficiency (D.O.G.E) non-governmental agency under the Trump administration.

同時，美國共和黨獲勝後，DOGE 的股價飆升，促使科技巨頭 Elon Musk 重新進行宣傳工作，他被指定領導川普政府下擬議的政府效率部(D.O.G.E) 非政府機構。

The surge in activity in South Korean markets could be a response to these developments in the United States. Analysts caution, however, that these coins may not sustain their high market positions, particularly if bots are influencing prices in Asian markets.

韓國市場活動的激增可能是對美國這些發展的回應。然而，分析師警告稱，這些代幣可能無法維持其較高的市場地位，特別是如果機器人正在影響亞洲市場的價格。