Degen’s remarkable price increase stems from raw momentum, with no major news or factors identified. Speculations about a short squeeze or whale activity have emerged, highlighting the unpredictable nature of such crypto rallies.
Despite Degen’s surge, the global crypto market has seen a decline of 0.73%, settling at 3.33 trillion USD. Core cryptocurrencies like Bitcoin and Ethereum are also experiencing downward trends, contrasting sharply with DEGEN’s performance.
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