Dogecoin has become the most popular meme coin among short-term investors in the past seven days.
Dogecoin Dominance
According to data aggregator IntoTheBlock, Dogecoin has become the most sought-after meme coin by short-term investors, attracting 110,000 new investors over the past week.
Popular Meme Coins Among Investors
After Dogecoin, the meme coins most popular with investors include Shiba Inu (SHIB), DEGEN, and PEPE. SHIB and DEGEN stand out with around 23,000 active short-term investors, while PEPE attracted 19,000 investors last week.
Role of Short-term Investors in Meme Coin Market
Short-term investor activity plays a significant role in the promotion of meme coins, as their popularity is often driven by hype. DOGE, unsurprisingly, leads in the number of short-term investors.
Dogecoin maintains its leadership in the meme coin market thanks to the interest of short-term investors, while other coins are quickly gaining popularity.