Dogecoin

PEPE

Shiba Inu

Short-term trader activity is a critical factor in the dynamics of meme coins, which are largely fueled by hype and market sentiment.
Leading this trend is Dogecoin (DOGE), which boasts the highest number of short-term traders in the meme coin space.
<h2 id="doge-emerges-as-traders-favorite">DOGE Emerges as Traders’ Favorite</h2>
According to the latest <a href="https://x.com/intotheblock/status/1844649156025159689" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">findings</a> by the on-chain analytic platform Intotheblock, DOGE attracted 110,000 short-term traders over the past seven days. This comes amidst a renewed strength in the meme coin’s price as the token attempts to break above the resistance level of $0.109.
Additionally, crypto analyst Ali Martinez also <a href="https://x.com/ali_charts/status/1842985818430062993" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">pointed</a> out an interesting recurring historical pattern in DOGE’s price movements, suggesting that history may be repeating itself. Martinez said that Dogecoin has previously experienced a breakout from a multi-year descending triangle, followed by a 200% surge and then a 60% retracement, which ultimately led to a significant bull run.
DOGE had recently undergone a 65% pullback, which aligns with the familiar pattern seen in past cycles. This could indicate that the meme coin is once again preparing for a potential major rally, mirroring previous bullish trends.
Significant activity in DOGE’s active address also <a href="https://cryptopotato.com/massive-uptick-in-dogecoin-doge-activity-could-signal-investor-bullishness/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">signals</a> investor bullishness.
<h2 id="degen-trails-closely-behind-doge">DEGEN Trails Closely Behind DOGE</h2>
Notably, Degen (DEGEN) has also emerged as a standout contender, trailing closely behind the OG meme coin. ITB data suggests that it has attracted approximately 23,000 active short-term traders during the same period, a figure that matches that of Shiba Inu (SHIB) despite DEGEN’s market capitalization being only 10% of the second largest meme.
This stark contrast highlights the strong speculative interest in DEGEN. Pepe (PEPE) also witnessed a similar sentiment with around 19,000 short-term traders.
Meanwhile, other mid-sized meme coins such as – Coq Inu (COQ), Turbo (TURBO), Mog Coin (MOG), and MAGA (TRUMP) – have shown a marked decrease in trader engagement over the past week. In fact, ITB’s data shows that many are averaging around 4,000 short-term traders, indicating a significant gap in activity levels compared to DOGE and DEGEN.
The post <a href="https://cryptopotato.com/doge-leads-shib-and-pepe-in-this-important-metric-details/" rel="noopener noreferrer nofollow">DOGE Leads SHIB and PEPE in This Important Metric: Details</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

DOGE Leads SHIB and PEPE in This Important Metric: Details

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