The situation in South Korea has spread to the cryptocurrency market, with the most actively traded cryptocurrencies on local exchanges, such as BTC, XRP, and Dogecoin (DOGE), dropping by up to 30% on Upbit, but the subsequent market is gradually warming up. Currently, large funds holding DOGE are still withdrawing, and recently, the selling from large funds is still significantly greater than the buying, but the long-term outlook remains bullish. In the short term, there may be fluctuations with a drop of 10% to 30%, but a halving is unlikely. The next support level is around 0.37, and if the price drops to around 0.37, it may receive support and rebound. Currently, the three tokens most likely to go through ETF are DOGE, PEPE, and XRP. Among them, due to DOGE's volatility and strong community influence, it has become a popular speculative asset in the Korean won market. On Upbit, DOGE's 24-hour trading volume ranks third, only behind XRP and HBAR. The success of BTC and ETH spot ETFs has garnered attention around the potential DOGE spot ETF market discussion. Analysts emphasize that despite the uncertainty surrounding regulatory approval for the DOGE ETF, DOGE's liquidity and community strength are factors that make it a viable ETF candidate. Therefore, the long-term outlook for Dogecoin remains positive.