DEGEN, a popular ERC-20 meme token, has recently made significant strides. Reports indicate that the cryptocurrency has risen to the 2nd position in various on-chain metrics related to meme coins. The token has experienced a substantial increase in the meme coin sector.
DEGEN has surprisingly secured the #2 spot in several on-chain metrics for meme coins. In terms of both trader numbers and transaction count, $DEGEN is right behind $DOGE. This achievement is noteworthy given that DEGEN’s market cap is only 0.79% of Dogecoin’s.
According to on-chain statistics, the token boasts a significant number of traders and a high transaction volume. This has propelled it to the 2nd position in the meme coin realm, trailing behind the top meme token $DOGE.
DEGEN was launched in January of this year and has garnered a lot of attention since its inception. On-chain data shows that the token has seen a remarkable increase in value, spiking by 1,500% within just one month. Additionally, it reached a market capitalization of nearly $212 million during that time.
What’s particularly interesting is that the token has quickly climbed to the 2nd position in such a short period. $DOGE, the top meme coin, has been struggling to maintain its position for some time. Despite having only 0.79% of Dogecoin’s market cap, DEGEN’s rapid rise is impressive and suggests potential for further growth in the future.