CandleFocus Dogecoin Becomes Traders' Champion Over SHIB and PEPE: Report
2024-10-11
Author: Content Editor
On-chain data aggregator IntoTheBlock has reported a surge in short-term trading activity in meme coins, with Dogecoin being the most popular choice among short-term traders. Over the past seven days, Dogecoin attracted the largest number of short-term traders at 110,000, while other popular meme coins like Shiba Inu, DEGEN, and Pepe received significantly less attention. The report highlights the significance of short-term trader activity in meme coins, as they are primarily driven by hype. Meanwhile, crypto analyst Ali Martinez suggested that Dogecoin may experience a bullish trend similar to its past history, with a 200% surge followed by a retracement and a possible bull run. Additionally, large Dogecoin whales have recently accumulated a substantial amount of the cryptocurrency. Currently, Dogecoin has witnessed a 4.2% increase in the last 24 hours and is trading at $0.10820.
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