Short-Term Trader Activity Rises in DOGE, SHIB, and PEPE Memecoins
Release: 2024/10/11 16:56 Reading: 587
The cryptocurrency market has witnessed heightened activity, especially among memecoins, as Bitcoin fluctuates around $60,000. This volatility has led to increased short-term trading activity for several major memecoins.
According to IntoTheBlock, short-term traders have surged in the past week. Dogecoin (DOGE) reigns supreme with the highest number, surpassing 110,000 traders. Shiba Inu (SHIB) follows closely with 23,000 traders. Notably, DEGEN has also gained traction with 23,000 active short-term traders, despite its considerably smaller market cap compared to Shiba Inu.
Pepe, another memecoin, has also seen a surge in trading, attracting approximately 19,000 traders. Other memecoins such as COQ, TURBO, MOG, and MAGA have also experienced growth, adding around 4,000 traders each.
As market volatility persists, it remains to be seen how these memecoins will perform in the coming days and whether the short-term trading frenzy will translate into substantial price movements.
Disclaimer: This article provides information for educational purposes only and should not be construed as financial advice. Conduct your own research before making any investment decisions.
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