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 <p>Two low-cap memecoins overtook Dogecoin (DOGE) in terms of weekly active traders, according to the crypto analytics firm IntoTheBlock.</p>
 <p>Degen (DEGEN) currently leads all meme assets with 129,000 active traders, followed by The Doge NFT (DOG) with 126,000.</p>
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 <p>Explains IntoTheBlock,</p>
 <p><em>“The number of addresses that hold an asset for less than a month are classified as traders. A strong increase in traders usually coincides with bullish momentum. While DOGE has long dominated almost every metric in the memecoin market, it seems to be losing some of its dominance.”</em></p>
 <figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GK5RiYlXUAAzV85?format=jpg&amp;name=medium" alt="Image" width="903" height="500">
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   Source: IntoTheBlock/X
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 <p>DEGEN launched on the Ethereum (ETH) layer-2 scaling solution Base in January. The 212th-ranked crypto asset by market cap is trading at $0.0337 at time of writing and is down more than 9% in the past 24 hours.</p>
 <p>The Doge NFT tokens are fractionalized portions of the iconic Doge photo, which was minted on-chain by Atsuko Sato and won at auction by PleasrDAO. The 295th-ranked crypto asset by market cap is trading at $0.0165 at time of writing and is down nearly 1.5% in the past 24 hours.</p>
 <p>IntoTheBlock also notes that Dogecoin needs to solidly move past the $0.20 price level in order to reach new highs. At that price point, 32,000 addresses hold 3.78 billion DOGE at a loss.</p>
 <figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GKu6iXOXsAAGYRp?format=jpg&amp;name=large" alt="Image" width="1713" height="280">
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   Source: IntoTheBlock/X
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 <p>DOGE is trading at $0.195 at time of writing.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/two-lower-cap-memecoins-overtake-dogecoin-in-terms-of-weekly-active-traders-crypto-analytics-firm-intotheblock-tbt85237.html">https://thebittimes.com/two-lower-cap-memecoins-overtake-dogecoin-in-terms-of-weekly-active-traders-crypto-analytics-firm-intotheblock-tbt85237.html</a></p>

Two Lower-Cap Memecoins Overtake Dogecoin in Terms of Weekly Active Traders: Crypto Analytics Firm IntoTheBlock

TheBitTimes

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