🚀🚀 Pepe (PEPE) has hit new records, fueled by the approval of spot Ethereum ETFs. The number of blockchain addresses trading PEPE surged last month, with the popular Ethereum-based memecoin doubling in the last 30 days thanks to the spot ETH ETF approval. According to IntoTheBlock, daily active addresses holding PEPE increased by 230% to 9,830, outpacing other memecoins like FLOKI, which saw a 179% increase, and Dogecoin, which grew by 10% to 53,000 daily active addresses.
The memecoin craze is driving up active addresses daily. While not always a precise measure, tracking daily active addresses can show network adoption trends. Among those tracked by Decrypt and IntoTheBlock, PEPE stood out. Based on the Pepe the Frog meme created by Matt Furie in 2005, PEPE gained popularity since its release last April. Despite their volatility and risks, memecoins have become a dominant trend.
PEPE recently hit an all-time high of $0.00001698, though it fell by 4.8% in the last 24 hours. Despite this short-term decline, most PEPE investors are still in profit, with 97% earning on paper and 2.73% breaking even, according to IntoTheBlock.
