Should You Buy DEGEN Now as a Degen Trader?

DEGEN, a Solana-based meme coin, has gained rapid attention in recent days thanks to a significant price rally followed by a sharp correction — a familiar pattern in the world of meme coin speculation. 

Degen traders, known for chasing high-risk, high-reward assets, are keeping a close eye on DEGEN’s volatile movement.

In this article, we break down DEGEN's recent price action, assess its momentum, explore its availability on Bitrue Alpha, and provide a step-by-step guide to buying it. Is now the right time to ape in? Let’s find out.

DEGEN Price Overview: Volatility at Its Peak

Looking at the 4-hour chart from Dexscreener, DEGEN experienced a strong parabolic movement starting around July 13, followed by a rapid correction that’s still unfolding:

• Initial Phase: For several days, DEGEN traded sideways with minimal volume and a flat trajectory — a classic low-liquidity phase.
  
   
• Breakout Spike: Around July 14, DEGEN’s price spiked sharply, breaking above the 0.001000 mark and peaking at nearly 0.004000 SOL.
  
   
• High Volume Activity: The trading volume surged to over 115K, signaling strong momentum from traders and bots entering positions.
  
   
• Post-Spike Correction: As expected, after multiple sharp peaks, DEGEN began retracing. The current price sits at 0.001944 SOL, down nearly 50% from the peak.
   

This parabolic-to-pullback pattern is familiar in meme coin cycles. The question is whether DEGEN will find a support base and form a second leg up — or fade out like many pump-and-dump tokens.

Read Also: What is DEGEN? Here's How to Buy DEGEN Coin on Bitrue Alpha

Why Did DEGEN Spike?

Several key factors likely triggered DEGEN’s explosive growth:

1. Community Hype & Viral Momentum
   Solana meme communities on platforms like X (Twitter) and Telegram fueled awareness through memes, rumors, and hype.
   
    
2. Low Market Cap
   As with most meme coins, DEGEN’s low initial market cap made it easy for even modest buy-ins to significantly impact price.
   
    
3. Bot Trading and FOMO
   Automated trades and Degen traders looking to flip fast gains added fuel to the fire, causing massive price swings.
   
    
4. Raydium Listing
   Being tradable on Raydium, a leading Solana DEX, gave DEGEN a solid launchpad to attract early speculators.

Should You Buy DEGEN Now?

That depends on your risk tolerance and trading goals. Here are two perspectives:

Bullish Case

• Strong brand appeal in meme coin culture
   
• Active trading volume remains significant
   
• Potential for a second wave if influencers re-engage

Bearish Case

• No clear roadmap or utility backing the token
   
• The post-spike correction could continue
   
• Diminishing volume may signal waning interest
   

If you’re a seasoned degen trader with high-risk appetite, DEGEN could be worth watching for a bounce entry. But for long-term investors, it's speculative at best.

Read Also: Is Bitrue Alpha Worth It? Give it A Try Now

DEGEN on Bitrue Alpha: Gateway to Trading

As part of the growing meme coin listings, DEGEN is now accessible via Bitrue Alpha, Bitrue’s decentralized trading interface built for emerging assets. 

This integration gives users a fast, Solana-based way to gain exposure to DEGEN without relying solely on Raydium or third-party DEXs.

Bitrue Alpha is gaining traction among meme coin traders for its:

• Easy-to-use interface
   
• Integration with Solana assets
   
• Fast execution and wallet compatibility

How to Buy DEGEN on Bitrue Alpha

Here’s how to buy DEGEN easily using the Bitrue app:

1. Open the Bitrue app.
    
2. Go to the Alpha section on the homepage.
    
3. Use the Bitrue Alpha search bar to search for DEGEN.
    
4. Trade DEGEN/USDT.
    

Note: Please ensure you are using the latest version of the Bitrue app for full Alpha functionality.

Conclusion

DEGEN embodies the thrill and risk of meme coin trading. While recent price action shows it has short-term potential, it lacks foundational support for long-term investment. If you’re a degen trader looking to catch the next volatile move, DEGEN may still have a few tricks left — but timing and risk management are key.

Don’t just follow the market—understand it. Explore deeper analysis and smarter strategies today on the Bitrue.

FAQ

What is DEGEN coin?

DEGEN is a meme coin on the Solana blockchain designed for speculative, short-term trading. It gained popularity due to its name appeal and rapid price movement.

Why did DEGEN’s price fall after the pump?

After peaking near 0.004000 SOL, traders began selling to lock profits. Meme coins typically see sharp corrections after hype-driven pumps.

Can I buy DEGEN on Bitrue Alpha?

Yes. DEGEN is available on Bitrue Alpha, allowing you to trade it directly with USDT using your Solana-compatible wallet.

Is DEGEN a safe investment?

Like most meme coins, DEGEN is highly speculative. It’s suitable for experienced traders willing to accept high volatility and risk of loss.

What’s the difference between Bitrue and Bitrue Alpha?

Bitrue is a centralized exchange, while Bitrue Alpha is a decentralized interface supporting fast, peer-to-peer swaps of new and trending assets like DEGEN.