Dogecoin

Shiba Inu

Date: Fri, Oct 11, 2024, 08:29 AM GMTThe cryptocurrency market has been buzzing with activity lately, particularly among memecoins, as Bitcoin&#39;s price fluctuates around the $60,000 mark. This volatility has pushed many major <a href="https://coinsprobe.com/top-memecoins-pepe-wif-and-bonk-drop-to-support-levels-what-to-expect-next/" rel="noopener noreferrer nofollow">memecoins </a>back to their initial buying zones, sparking a notable increase in short-term trading activity.Recent analysis from <a href="https://x.com/intotheblock/status/1844649156025159689" rel="noopener noreferrer nofollow">IntoTheBlock</a> reveals a significant rise in short-term traders over the past week. Leading the pack is Dogecoin (DOGE), which unsurprisingly boasts the highest number of short-term traders, reaching an impressive 110,000 traders. Following closely is Shiba Inu (SHIB), with 23,000 traders joining the fray. Interestingly, DEGEN has also made a mark with 23,000 active short-term traders, despite its market cap being only 10% of Shiba Inu&#39;s.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/3fc53ac4cf814f358852eb7021f52ce5.jpeg" />Source: IntoTheBlockAnother contender in the memecoin space, Pepe, has experienced a surge in trading activity as well, with approximately 19,000 traders participating. Additionally, other memecoins such as COQ, TURBO, MOG, and MAGA have seen a growth of around 4,000 traders each.As the market continues to shift in volatility, it will be interesting to see how these memecoins perform in the coming days and whether the short-term trading frenzy will lead to more significant price movements.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.Also Read: <a href="https://coinsprobe.com/analysts-hint-at-potential-upside-for-polygon-pol-and-chainlink-link-heres-why/" rel="noopener noreferrer nofollow">Analysts Hint at Potential Upside for Polygon (POL) and Chainlink (LINK): Here’s Why</a>

Short-Term Trader Activity Rises in DOGE, SHIB, and PEPE Memecoins

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