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Cryptocurrency News Articles
$DEGEN Surged +89.2% in 24 Hours! Now Tops Accumulated by Smart Money!
Oct 03, 2024 at 05:35 pm
Yesterday, $DEGEN went live on Coinbase Spot trading, as the 4th @base token, joining $WELL, $AERO, and $SEAM!
Memecoin $DEGEN Surges 89.2% in 24 Hours, Tops Smart Money Accumulation
As highlighted by IntoTheBlock, $DEGEN has experienced an impressive surge of 89.2% in the past 24 hours, making it the top token being accumulated by smart money investors, according to IntoTheBlock.
Moreover, the number of active $DEGEN addresses nearly doubled over the last week, indicating a substantial increase in on-chain activity that aligns with its recent price spike.
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.
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