Dogecoin Becomes Traders' Champion Over SHIB and PEPE: Report.

On-chain data aggregator IntoTheBlock has published a post about the recent increase in short- term trading activity that involved meme coins. It revealed that Dogecoin has been the most frequent choice of short-term traders recently, while other popular meme coins got much less of their attention.

DOGE leaves SHIB, PEPE, DEGEN far behind.

The report published by the above- mentioned on-chain data source reveals that Dogecoin is the top meme coin that short-term cryptocurrency traders have picked recently, as it has attracted the largest number of them over the past seven days – 110,000.

Other leading meme cryptocurrencies - Shiba Inu, DEGEN and Pepe - are lagging far behind. SHIB and DEGEN both stand out with approximately 23,000 active short-term traders, though DEGEN takes up only 10% of Shiba Inu's market capitalization value. PEPE shows 19,000 active traders over the past week. Other, smaller meme coins - Coq Inu, Turbo, Mog Coin and MAGA - are showing 4,000 short-term traders busy making profits with them.

Dogecoin eyes 200% increase.

According to a recent tweet published by crypto analyst and trader Ali Martinez, the original meme cryptocurrency with the largest market cap among this type of asset, DOGE, might be in for a repeat of its bullish history.

Martinez said that, currently, Dogecoin is coming out of a multi- year descending triangle, sharing a chart that shows that since 2015, DOGE broke has out of it with a bull run. Before that happens, he commented, Dogecoin first soars by 200%, then stages a 60% retracement. Only after that does a bull run take place.

While this is happening and Dogecoin is eyeing a 200% surge before a retracement and a possible bull run to follow, the aforementioned Into TheBlock tweeted that a short while ago, large Dogecoin whales had accumulated an impressive 2.07 billion DOGE within just one week. That was the biggest purchase since January of this year.