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There is a surge in the number of rug pull involving meme tokens in the cryptocurrency industry.
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XRP was trading above $0.50 at press time following a 4.26% gain.
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The spikes in address activity resulted in XRP decoupling 4% from the rest of the altcoin market.
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Santiment, the blockchain intelligence firm, shared in a tweet today that the Ripple network recently recorded its second and third biggest address activity spikes.
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At press time, the meme coin’s price stood at $0.000008785 according to CoinMarketCap. This was after the crypto printed a 2.59% gain over the past 24 hours.
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2,538 new SHIB addresses were created on 26 May 2023 alone, which is the highest increase in 3 months.
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