In the past 24 hours, $DEGEN has experienced an impressive 89.2% surge, making it the top token accumulated by smart money investors.
The number of active $DEGEN addresses nearly doubled over the last week, reflecting a substantial increase in on-chain activity, aligned with its recent price spike.
The number of active $DEGEN addresses nearly doubled in the last week, highlighting a significant increase in on-chain activity alongside its recent price movement. pic.twitter.com/gOKZhCyL45
— IntoTheBlock (@intotheblock) October 2, 2024
This momentum follows $DEGEN’s debut on Coinbase’s spot trading platform yesterday. It marks the fourth token from the @base ecosystem to be listed on Coinbase, joining $WELL, $AERO, and $SEAM. Uniquely, $DEGEN is the first token from @base available on both spot and perpetual trading.
The community’s strong backing is evident, with nearly 800 million $DEGEN tokens, worth approximately $3.6 million, locked in the vault. Key supporters like @jessepollak and @Tyler_Did_It, among others, have played crucial roles in this surge of interest.
$DEGEN surged +89.2% in 24 Hours! Now Tops Accumulated by Smart Money!
Yesterday, $DEGEN went live on Coinbase Spot trading, as the 4th @base token, joining $WELL, $AERO, and $SEAM! It is also the first @base token available on both spot and perpetual trading.
This surge… pic.twitter.com/zwmtT6QsUB
— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) October 2, 2024
Memecoin On Base, $DEGEN
For those unfamiliar, $DEGEN is a memecoin on Base, similar to $BRETT, gaining significant traction in recent weeks. Adding to the excitement, Coinbase revealed that $DEGEN has been added to its listing roadmap. However, in a surprising twist, the platform also announced that $IO would be added to the roadmap, but $IO saw a 15% price drop following the news.
$DEGEN is up 150% in a single day.
It's a memecoin on Base similar to $BRETT.
Reason 👇
Coinbase announced that it'll add DEGEN to its listing roadmap.
What's shocking is that Coinbase also announced to add $IO to its listing roadmap, but it dumped 15%.
This shows… pic.twitter.com/rjACqOX2lO— Wise Advice (@wiseadvicesumit) October 2, 2024
This recent spike in $DEGEN’s price, alongside the contrasting decline of $IO, highlights how the memecoin frenzy in this cycle is reaching new heights, with hype playing a major role in driving market behavior.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
