Dogecoin Becomes Traders' Champion Over SHIB and PEPE: Report

Meme Coin Trading Surges Amidst Short-Term Activity

On-chain data aggregator IntoTheBlock reports a recent surge in short-term trading activity centered around meme coins.

Dogecoin Dominates Short-Term Trading

Dogecoin stands as the most prevalent meme coin among short-term traders, amassing over 110,000 active participants in the past week.

Shiba Inu Lags Behind

Shiba Inu, another popular meme coin, trails significantly with around 23,000 active short-term traders. Pepe and DEGEN follow closely with 19,000 and 23,000 active traders, respectively.

Dogecoin's Potential Surge

Crypto analyst Ali Martinez suggests that Dogecoin may be poised for a repeat of its previous bull run, with a potential 200% increase before a retracement.

Whale Activity

IntoTheBlock additionally notes a recent accumulation of 2.07 billion DOGE by large Dogecoin whales within a single week, marking the largest purchase since January 2024.

Recent Price Movements

As of writing, Dogecoin has experienced a 4.2% increase over the past 24 hours. Shiba Inu has recovered 4.45%, following a decline of 13.17% since October 7th.