• The heavy buying volume during Boop's launch in December 2023 corresponded with a significant portion of returning traders, participants that continued to trade the initial launch.
• Selling volume predominated from late December 2023 until March 2024, with most of the volume driven by returning traders
• Buying volume picked up in late February 2024, driven by an smaller number of new traders
• New traders began to dominate buying and selling volume in March 2024, with price reflecting the influx of buying volume

• The total trades per week began to significantly uptick in March 2024, approaching the first launch week in December 2023
• The average trades per trader hovered between 10-12 in March 2024.
• In late March, we see average trades falling to around 4 per trader
• The lower amont of trades corresponds with the higher influx of new traders
• Considering the corresponding price growth, we can deduce new buyers are looking to buy and hold as the price has shown positive activity
• We see the new buyer trend reflected in the average weeks per trader, which falls in late March reflecting the new trader influx

Conclusion

• Increased Attraction of New Traders During Price Surge

  • In late February and early March 2024, Boop witnessed an influx of new traders, coinciding with a price increase. Boop's price quadrupled by late March, after breaking its previous all-time high (ATH) from December 2023 in mid-March. This trend indicates that the anticipation of continued growth or the breaking of the ATH could have been a major draw for new market participants.

• Dominance of New Traders in March

  • March 2024 saw new traders becoming the predominant buyer demographic, as evidenced by the average active weeks per trader dwindling to a single week by the month's end. This shift suggests a rapid turnover of new traders, potentially drawn by Boop's price rally.

• Changing Trading Behavior with Market Expansion

  • Despite an overall increase in total trades, the average trades per trader decreased. This trend indicates a broadening of the market base, with a larger number of participants engaging in fewer transactions.

• Implications of Continued Buying on Market Stability

  • The sustained buying activity within the Boop community suggests a strong foundation for future price stability and potential growth. As the community continues to support and buy into the token, it is likely that this collective action will further solidify the market's base, potentially leading to a more resilient price structure.