DOGE Leads SHIB and PEPE in This Important Metric: Details

Short-term Trading Activity in Meme Coin Markets

Short-term trading activity significantly influences meme coin dynamics, driven primarily by hype and market sentiment.

Dogecoin Emerges as the Top Choice for Traders

According to Intotheblock's analysis, Dogecoin (DOGE) has attracted 110,000 short-term traders in the past week. This surge coincides with a rise in DOGE's price, which attempts to break the resistance level of $0.109.

Historical Patterns and Potential Bull Run

Crypto analyst Ali Martinez observes historical patterns in DOGE's price movements. After breaking out of a descending triangle, DOGE has typically experienced a 200% surge, a 60% retracement, and a subsequent bull run. Given DOGE's recent 65% pullback, the meme coin may be poised for a rally similar to previous bullish trends.

Degen Trails Closely, COQ and TURBO See Decline

Degen (DEGEN) has also attracted attention, with approximately 23,000 active short-term traders, matching Shiba Inu (SHIB) despite its smaller market capitalization. Pepe (PEPE) has witnessed a similar sentiment.

Meanwhile, other mid-sized meme coins like Coq Inu (COQ), Turbo (TURBO), Mog Coin (MOG), and MAGA (TRUMP) have experienced a decrease in trader engagement over the past week, indicating a significant gap in activity levels compared to DOGE and DEGEN.