2024

Memecoin

Token

Secure

<p>$DEGEN, a well-known <a href="https://blockchainreporter.net/glossary/erc-20/" data-type="glossary" data-id="21127">ERC-20</a> meme token, has recently witnessed huge progress. As per the reports, the crypto coin has effectively heightened its rank to the 2<sup>nd</sup> spot across many on-chain metrics dealing with meme coins. The reports have pointed out that the token has seen a significant boost within the meme coin sector.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
   <p lang="en" dir="ltr">DEGEN is surprisingly ranking #2 across several on-chain metrics for memecoins. In terms of both trader numbers and transaction count, <a href="https://twitter.com/search?q=%24DEGEN&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$DEGEN</a> is right behind <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$DOGE</a>.<br><br>This achievement is remarkable considering DEGEN's market cap is only 0.79% of Dogecoin's <a href="https://t.co/lBFa67986H" target="_blank">pic.twitter.com/lBFa67986H</a></p>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1803391481517834685?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 19, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="degen-obtains-the-2-sup-nd-sup-spot-among-meme-coins-in-terms-of-on-chain-metrics">$DEGEN Obtains the 2<sup>nd</sup> Spot among Meme Coins in Terms of On-Chain Metrics</h2> 
<p>In line with the on-chain statistics, the token surprisingly enjoys a substantial number of traders. This is not the only prestigious factor for $DEGEN as the token is also seeing a huge number of transactions. Keeping all this in view, the crypto token has efficiently occupied the 2<sup>nd</sup> place in the meme coin realm. Hence, it comes after the top meme token $DOGE.</p> 
<p>DEGEN launched back in January this year. Since its release, the crypto token has been getting much attention. According to the on-chain data, the crypto token has remarkably risen to great heights in terms of value. In this respect, it had reportedly spiked by 1,500% within one month. In addition to this, the token had also successfully reached a market capitalization of nearly $212 million worth during that time.</p> 
<h2 class="wp-block-heading" id="the-token-comes-after-doge-while-having-just-0-79-of-its-market-capitalization">&nbsp;The Token Comes After $DOGE While Having Just 0.79% of its Market Capitalization</h2> 
<p>An interesting thing is that the token’s surge to claim the 2<sup>nd</sup> rank is surprising within such a short period. $DOGE, the top meme coin, has been struggling for quite a time to maintain its top position. On the other hand, $DEGEN possesses just 0.79% of the market cap of Dogecoin. Even then, its jump in this respect is astonishing, suggesting further spikes in the future.</p>

$DEGEN Rises to Secure the 2nd Position Across Many On-Chain Memecoin Metrics

Table of Contents

BlockchainReporter

Other articles published on Jun 19, 2024

Pantera Capital Backs Solana to Rival Ethereum Amid Market Shifts

Hashdex Wants A Combined Bitcoin And Ethereum ETF As VanEck Says Hedge Funds Are Front-Running ET...

Floki Inu (FLOKI) Price Prediction: Bearish Trends and Key Levels

Ethereum NFT Sales Jump 18% After SEC Dropped Its Probe Into Ethereum 2.0 – What Next?

Is It The End Of Gamestop (GME) Meme Coin As Value Drops 75% From ATH?

Understanding the KOL Round in Crypto Token Deals!

Join our free newsletter for daily crypto updates!