South Korea’s largest crypto exchange, Upbit, holds roughly $1.1 billion in dog-themed tokens spread across 13 networks, according to on-chain analytics from Arkham Intelligence. The holdings comprise about 11.77 billion DOGE, valued at around $839 million, and 64.16 trillion SHIB, worth approximately $287 million, at late-2026 prices. In July 2026, Upbit carried out an internal rebalancing that moved 864 billion SHIB between its own wallets, with no buying or selling involved, to improve liquidity following a 36% price surge driven by localized buying pressure. An independent audit released by Upbit in August 2026 confirmed that its reserves exceeded user liabilities for both DOGE and SHIB. By mid-September 2026, Upbit’s SHIB/KRW pair matched Binance’s daily trading volume of $5.29 million, a parity tied to whale accumulation and local market price premiums.
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