Short-term trader activity is a critical factor in the dynamics of meme coins, which are largely fueled by hype and market sentiment.<\/p>\n
Leading this trend is Dogecoin (DOGE), which boasts the highest number of short-term traders in the meme coin space.<\/p>\n
According to the latest 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\u2019s price as the token attempts to break above the resistance level of $0.109.<\/p>\n Additionally, crypto analyst Ali Martinez also pointed<\/a> out an interesting recurring historical pattern in DOGE\u2019s 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.<\/p>\n 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.<\/p>\n Significant activity in DOGE\u2019s active address also signals<\/a> investor bullishness.<\/p>\n 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\u2019s market capitalization being only 10% of the second largest meme.<\/p>\n This stark contrast highlights the strong speculative interest in DEGEN. Pepe (PEPE) also witnessed a similar sentiment with around 19,000 short-term traders.<\/p>\n Meanwhile, other mid-sized meme coins such as \u2013 Coq Inu (COQ), Turbo (TURBO), Mog Coin (MOG), and MAGA (TRUMP) \u2013 have shown a marked decrease in trader engagement over the past week. In fact, ITB\u2019s data shows that many are averaging around 4,000 short-term traders, indicating a significant gap in activity levels compared to DOGE and DEGEN.<\/p>\n The post DOGE Leads SHIB and PEPE in This Important Metric: Details<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" 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. DOGE Emerges as Traders\u2019 Favorite According to the latest findings by the on-chain analytic […]<\/p>\n","protected":false},"author":0,"featured_media":13267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-13266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/13266"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13266"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/13266\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/13267"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}DEGEN Trails Closely Behind DOGE<\/h2>\n