'Gangnam Style' Closes in on Top Spot on Billboard Hot 100

Psy performs on the NBC TV's "Ellen Show" on Wednesday.

Psy's hit song "Gangnam Style" has jumped 53 slots to 11th on the Billboard Hot 100 singles chart, which was updated on Thursday (Korean time). The chart ranks songs based on single album sales, downloads and radio broadcasts.

According to Billboard, "Gangnam Style" was downloaded 188,000 times over the past week, up 210 percent from a week earlier. It placed 43rd on the On-Demand Songs chart, which ranks songs based on the number of song requests. As the song is getting more airplay in the U.S., and given what it has achieved so far, it seems destined for the top spot.

"Psy's official promotional activities in the U.S. are just beginning, so he will accomplish much more", saidLee Kwan-hee, director of Universal Music Korea. "He has about an even chance of topping the [chart]".

Psy's agency YG Entertainment said they are considering releasing Psy's single album in the U.S., but nothing has been decided yet. "It seems that he will enter the Billboard Hot 100's top 10 around next week, but we are not sure if he will make it to No. 1", the company said.

"As 'Gangnam Style' is a Korean song, sung by a Korean, this could be its strength and weakness at the same time", a music critic said.

The New York Post said on Tuesday that Psy was seen drinking whiskey with Leonardo DiCaprio, Gerard Butler and Paris Hilton in the VIP room of a club in New York, and that the club went wild when the DJ recognized him and played his song.