- Top 10 Meme Coins with Highest Liquidity
- Importance of Liquidity on Exchanges
- Why DOGE and SHIB Didn't Make the Top 10
LookOnChain posted a list of the top 10 meme coins with the highest liquidity on decentralized exchanges (DEXes). Surprisingly, DOGE and SHIB, the two largest meme coins by market capitalization, didn’t make the cut.
Top 10 Meme Coins with Highest Liquidity
The list includes: 1. $SLERF: $46M 2. $BOME: $37M 3. $PEPE: $36M 4. $MEW: $30M 5. $FLOKI: $29M 6. $WIF: $21M 7. $BabyDoge: $17M 8. $WHY: $16M 9. $POPCAT: $15M 10. $CAT: $14M
Importance of Liquidity on Exchanges
Liquidity on exchanges plays a crucial role in the cryptocurrency market. It refers to how easily an asset can be bought or sold without causing significant price fluctuations. Higher liquidity typically means that there are more buyers and sellers in the market, which can lead to tighter spreads and more stable prices. For traders and investors, high liquidity is desirable because it allows for easier entry and exit from positions. It also reduces the risk of slippage, which occurs when the price of a trade differs from the expected price due to a lack of liquidity.
Why DOGE and SHIB Didn't Make the Top 10
The absence of DOGE and SHIB from this list of highest liquidity meme coins on DEXes might seem puzzling at first glance. However, it’s important to note that this list specifically focuses on decentralized exchanges. DOGE and SHIB, being two of the most popular and established meme coins, likely have significant liquidity on centralized exchanges (CEXes) rather than DEXes. Centralized exchanges often provide higher liquidity for well-known cryptocurrencies due to their larger user bases and trading volumes. As a result, DOGE and SHIB may not need to rely as heavily on DEX liquidity pools, which could explain their absence from this particular ranking.
The list of top 10 meme coins with the highest liquidity on DEX highlights the diversity of the market and emphasizes the importance of liquidity for traders and investors. Despite DOGE and SHIB’s absence from this ranking, their popularity and liquidity on centralized exchanges remain high.
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