# $DEGEN Token Analysis

*An analytic Dashboard for $DEGEN*

By [DrDeFi](https://paragraph.com/@mrfti) · 2024-03-27

data, crypto, warpcast

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🪙$DEGEN🪙
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**$DEGEN**, an ERC-20 token launched in January 2024, has reshaped the Farcaster ecosystem by enabling Casters to reward others with **$DEGEN** for posting quality content.

This points system recognizes unique posts and comments, effectively bridging the gap between online contributions and real-world value.

Many users on Farcaster use this token to tip each other and promote high-quality content. Additionally, the recent price pump of this token has garnered more attentionIn this dashboard, I will investigate this token...

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![](https://storage.googleapis.com/papyrus_images/04170854c738e454b2d0b305b8a36ede.png)

🔸There are about 37 billion $DEGEN tokens, giving it a market cap of over $558.34 million at the latest price.

🔸So far, $DEGEN has 54460 holders, with an average holding amount of 239k tokens and a median (a more reliable metric) holding amount of 1370 tokens.

![](https://storage.googleapis.com/papyrus_images/f4a10c101136f291b41f93aed93d640a.png)

🔸The price of $DEGEN is currently 0.0085, and it has been increasing in all recent market conditions!

![](https://storage.googleapis.com/papyrus_images/1ae64f480d6eb15d21cb32111ebe40a1.png)

🔸More than 50% of the total supply is held in token contracts, with the top holder (0x704E...) holding more than 15 billion tokens in its multisig wallet.

![](https://storage.googleapis.com/papyrus_images/e0dcd6d8f2b02e1a130dea732e09af98.png)

🔸Excluding these contracts, the top address holds 314 million tokens, which is about 0.85% of the total supply.

👉Note: You can search your address in the search section to see your holdings and your rank among all users.

![](https://storage.googleapis.com/papyrus_images/177af37e6b1bf7f6d60607d872d65977.png)

🔸Most $DEGEN holders (58.61%) own hold than 100 tokens, totaling 4.4 million tokens (0.01% of total supply).

👉With 100 $DEGEN worth less than 10 cents, these holders are unlikely to interact with their tokens in the future unless they purchase more.

![](https://storage.googleapis.com/papyrus_images/1906a78f2e09a0b4e501354c7d8c5845.png)

### Excluding the previous tier, Tier 5 (10k to 50k tokens) has the most holders (24.28%) and holds 0.42% of the total supply. 58.61% of the total supply is held by 214 addresses

🔸44184 users chose to trade **$DEGEN** on-chain, executing a total of 210394 trades and generating a trading volume of $251.8 million.

![](https://storage.googleapis.com/papyrus_images/4647cd663f39519ae74625fc0aa46ab3.png)

🔸There was a huge amount of token transfers after March 14th, while the trading volume remained almost steady in a stable manner.

![](https://storage.googleapis.com/papyrus_images/52f47b951bc82a716c718b88c41e24e7.png)

Last **$DEGEN** swaps:

![](https://storage.googleapis.com/papyrus_images/0f49906f1fff54b3cd1a4a6da5008089.png)

🔸Almost all trading volume (96.8%) is through **Uniswap**, which is chosen by 76% of traders. Additionally, 85% of trades have been conducted using **Uniswap**

![](https://storage.googleapis.com/papyrus_images/dc4bca66e23ceb4236328f050c7daa43.png)

![](https://storage.googleapis.com/papyrus_images/64387d068f152270aaad4fca56363a94.png)

🔸Overall, in most days, the sell pressure exceeded the buy pressure. However, recently, the sell pressure has been less than in the initial days.

![](https://storage.googleapis.com/papyrus_images/8af17207cc99ec934bcf93f4558b9ff1.png)

![](https://storage.googleapis.com/papyrus_images/97b4c13a46bc070b516f66b6e4275e25.png)

To see all detailed analyses and upcoming updates, visit my [dashboard](https://flipsidecrypto.xyz/Mrfti/degen-cpvyt4) (and like it🙃🥰)  

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[Share](https://paragraph.xyz/@mrfti/i2zf5zksVGfV3BFbyp1g)

> This dashboard is made by Mrfti using FlipsideCrypto database:
> 
> You can find me on: [Twitter](https://twitter.com/mrfti_plus), [Warpcast](https://warpcast.com/mrfti), [Hey](https://hey.xyz/u/mrfti) and Discord: Mrfti

Don't forget to tip me with $DEGEN on warpcast =)

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*Originally published on [DrDeFi](https://paragraph.com/@mrfti/degen-token-analysis)*