$DEGEN rapid growth of capitalization to $3.5 million

Event:

Over the past 24 hours, the $DEGEN memecoin has shown an impressive growth of 42%, and its capitalization has reached $3.5 million. Such a sharp jump attracted the attention of a huge number of traders and memecoin searchers, but the reasons for the growth were not obvious.

Pump review:

Our analysis of the situation shows that the $DEGEN pump occurred solely due to the relevance of the token and the loyalty of the community. Unlike other projects, the $DEGEN team did not take active steps to support growth: there were no key announcements, Twitter posts (X) or other marketing steps. The growth was provided only by the enthusiasm of the community, which makes it extremely unstable and, in our opinion, short-term.

$DEGEN Team:

According to our specialists, the project team behaves passively and does not use the opportunities for token development. The lack of a clear strategy and communication with the community raises doubts about the long-term prospects of $DEGEN. If the developers do not start to participate more actively in promotion, interest in the project may quickly fade.

Future analytics:

Having re-examined all the resources and the token chart, our analysts believe that, given that the current growth is not supported by fundamental factors, $DEGEN is likely to experience a dump soon. Community activity will gradually decline, and the lack of support from the team will accelerate the price decline. Investors should be careful and take profits before the trend reverses.

Conclusion:

$DEGEN is a token that grows only on relevance, it showed impressive, but short-term growth based only on hype. Without the support of the team and real utility factors, the token risks quickly losing ground. Investors should take into account the high risks and not hope for a continuation of the rally. For more information about the token, you can check out its contract - 3UzkMymHpqDijXYaGsz8Vbc1Vk4tKBED5TDT9v6Hbonk

We continue to monitor the developments around $DEGEN.

This article is not financial advice!