Pepe (PEPE) is happy with the new record: Whales took advantage of the market! 🎁
Frog-inspired memecoin Pepe (PEPE) hits a new record after the spot EthETF was approved.
The number of blockchain addresses trading on Pepe has surged in the last month; the popular memecoin on the Ethereum network has grown by more than 100% in the past 30 days as the spot ETH ETF was approved.
According to the data, daily active addresses holding PEPE increased by 230% to 9,830. This growth even outpaced other memecoins such as #FLOKI, which saw a 179% increase in daily active addresses. Meanwhile, Dogecoin saw a 10% increase in the number of daily active addresses to 53,000.
While not always a clear metric, tracking the number of daily active addresses can indicate a network's adoption trends or usage patterns. PEPE is the name that has attracted the most attention in crypto.
PEPE is based on the Pepe the Frog meme, which was created by Matt Furie in the early days and quietly released in April last year. But the crypto community's interest in meme coins has peaked recently; despite the notorious volatility and risk of conflicts, meme coins have become a dominant trend.
PEPE has been taking advantage of the market for some time, rising to an all-time high of $0.00001698, with memecoins following closely behind. The popular memecoin, which has risen sharply since last year, has fallen 4.8% in the past 24 hours. Despite the short-term decline, most PEPE investors have taken profits, and many whales are currently fleeing.
