$DEGEN, a well-known ERC-20 meme token, has recently witnessed huge progress. As per the reports, the crypto coin has effectively heightened its rank to the 2nd spot across many on-chain metrics dealing with meme coins. The reports have pointed out that the token has seen a significant boost within the meme coin sector.
$DEGEN Obtains the 2nd Spot among Meme Coins in Terms of On-Chain Metrics
In line with the on-chain statistics, the token surprisingly enjoys a substantial number of traders. This is not the only prestigious factor for $DEGEN as the token is also seeing a huge number of transactions. Keeping all this in view, the crypto token has efficiently occupied the 2nd place in the meme coin realm. Hence, it comes after the top meme token $DOGE.
DEGEN launched back in January this year. Since its release, the crypto token has been getting much attention. According to the on-chain data, the crypto token has remarkably risen to great heights in terms of value. In this respect, it had reportedly spiked by 1,500% within one month. In addition to this, the token had also successfully reached a market capitalization of nearly $212 million worth during that time.
The Token Comes After $DOGE While Having Just 0.79% of its Market Capitalization
An interesting thing is that the token’s surge to claim the 2nd rank is surprising within such a short period. $DOGE, the top meme coin, has been struggling for quite a time to maintain its top position. On the other hand, $DEGEN possesses just 0.79% of the market cap of Dogecoin. Even then, its jump in this respect is astonishing, suggesting further spikes in the future.
