2024-9-7 11:10 |
LookOnChain posted a list of the top 10 meme coins with the highest liquidity on decentralized exchanges (DEXes), and surprisingly, DOGE and SHIB, the two largest meme coins by market capitalization, didn’t make the cut.
The list includes:
$SLERF: $46M $BOME: $37M $PEPE: $36M $MEW: $30M $FLOKI: $29M $WIF: $21M $BabyDoge: $17M $WHY: $16M $POPCAT: $15M $CAT: $14M Source: X/@lookonchain Why is Liquidity Important 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.
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Show more +Show less – Why Aren’t DOGE and SHIB on the Top 10 List?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.
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The post Here Are Top 10 Meme Coins With Highest Liquidity on Exchanges – DOGE and SHIB Don’t Make the List appeared first on CaptainAltcoin.
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