Shiba

Dogecoin

Champion

Mog Coin

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<p lang="en-GB" xml:lang="en-GB">On-chain data aggregator IntoTheBlock has published a post about the recent increase in short-term trading activity that involved meme coins. It revealed that <a href="https://u.today/207-billion-dogecoin-in-one-week-whats-happening" rel="noopener noreferrer nofollow">Dogecoin</a> has been the most frequent choice of short-term traders recently, while other popular meme coins got much less of their attention.</p>
<h2 id="doge-leaves-shib-pepe-degen-far-behind">DOGE leaves SHIB, PEPE, DEGEN far behind</h2>
<p lang="en-GB" xml:lang="en-GB">The report published by the above-mentioned on-chain data source reveals that Dogecoin is the top meme coin that short-term cryptocurrency traders have picked recently, as it has attracted the largest number of them over the past seven days – 110,000.</p>
<p lang="en-GB" xml:lang="en-GB">Other leading meme cryptocurrencies – Shiba Inu, DEGEN and Pepe – are lagging far behind. SHIB and DEGEN both stand out with approximately 23,000 active short-term traders, though DEGEN takes up only 10% of Shiba Inu’s market capitalization value. PEPE shows 19,000 active traders over the past week. Other, smaller meme coins – Coq Inu, Turbo, Mog Coin and MAGA – are showing 4,000 short-term traders busy making profits with them.</p>
<blockquote>
 <p lang="en" dir="ltr">Short-term trader activity plays a significant role in memecoins, as these tokens are primarily driven by hype.<a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$DOGE</a> unsurprisingly leads the pack with the highest number of short-term traders.<a href="https://twitter.com/search?q=%24DEGEN&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$DEGEN</a> stands out with around 23,000 active short-term traders—matching Shiba… <a href="https://t.co/PAtX1G2OrX" rel="noopener noreferrer nofollow">pic.twitter.com/PAtX1G2OrX</a></p>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1844649156025159689?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 11, 2024</a>
</blockquote>
<h2 id="dogecoin-eyes-200-increase">Dogecoin eyes 200% increase</h2>
<p lang="en-GB" xml:lang="en-GB">According to a recent tweet published by crypto analyst and trader Ali Martinez, the original meme cryptocurrency with the largest market cap among this type of asset, DOGE, might be in for a repeat of its bullish history.</p>
<p lang="en-GB" xml:lang="en-GB">Martinez said that, currently, Dogecoin is coming out of a multi-year descending triangle, sharing a chart that shows that since 2015, DOGE broke has out of it with a bull run. Before that happens, he commented, <a href="https://u.today/dogecoin-doge-may-rally-200-if-this-trend-plays-out" rel="noopener noreferrer nofollow">Dogecoin first soars by 200%</a>, then stages a 60% retracement. Only after that does a bull run take place.</p>
<p lang="en-GB" xml:lang="en-GB">While this is happening and Dogecoin is eyeing a 200% surge before a retracement and a possible bull run to follow, the aforementioned IntoTheBlock tweeted that a short while ago, large Dogecoin whales had accumulated an impressive 2.07 billion DOGE within just one week. That was the biggest purchase since January of this year.</p>
<p lang="en-GB" xml:lang="en-GB">As of this writing, Dogecoin has witnessed a 4.2% increase over the last 24 hours. It is now changing hands at $0.10820 after rising from $0.10387. Overall, DOGE is still down 7% from Monday, Oct. 7, when it sat at the $0.11509 level.</p>
<p lang="en-GB" xml:lang="en-GB">Its rival, SHIB, also recovered 4.45% in the last 24 hours after a 13.17% decline since Oct. 7, now trading at $0.00001697.</p>

Dogecoin Becomes Traders' Champion Over SHIB and PEPE: Report

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