THE $PEPE CRAZE!!!

    How has the recent surge in popularity of meme tokens, particularly $PEPE, impacted ownership distribution, trading volume, whale activity, and network impact on the Ethereum blockchain?

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    In recent weeks, a new trend has emerged in the world of cryptocurrency, as "meme" tokens have taken center stage. One such token, $PEPE, has quickly climbed to a market cap of approximately $100 million since its launch on April 16th. Other tokens, including $CHAD, $WOJAK, $ROPE, $MUMU, and $TRAD, have also experienced volatile yet surging growth.

    In this data analytics piece, we will dive into what's behind this $PEPE phenomenon, examining token distributions, trading and transaction volume, whale activity, and network impact to determine if this really is the season of meme tokens.

    $PEPE's daily trade volume is significantly lower than other tokens in the list, such as LDO, BLUR, and LQTY. However, it is still higher than tokens like ARB. This suggests that while $PEPE has experienced a surge in market cap and attention, its trading volume may not be as strong as other tokens in the market.

    Based on the data I provided earlier, it appears that $PEPE distribution is concentrated, with only 0.26% of the total number of holders controlling 20% of the total supply.

    In addition, there are 119 accounts that hold 0.001% or more of the total supply, indicating a high degree of concentration among whales.

    This level of concentration could potentially lead to market manipulation and increase the volatility of $PEPE's price.

    $PEPE has spent a total of 2.6k ETH on gas fees, indicating a high level of activity on the Ethereum network. The daily gas spend varies, with some days seeing significantly higher gas usage than others.

    However, it is worth noting that the gas spend of $PEPE is relatively small compared to other tokens with higher market caps and trading volumes.

    Despite this, $PEPE's market cap of approximately $127M is significant, especially considering its relatively recent launch on April 16th. Additionally, its daily trade volume has reached highs of over $166M, indicating strong demand for the token.

    Overall, while $PEPE may not be the highest spender of gas fees on the Ethereum network, its market cap and trading volumes suggest that it is having a significant impact in the world of meme tokens and DeFi.

    In conclusion, the recent surge in popularity of meme tokens, particularly $PEPE, has had a significant impact on various aspects of the Ethereum blockchain. Despite the fact that the distribution of $PEPE ownership is relatively concentrated, with a small number of whales holding a significant portion of the supply, there has been an increase in new buyers and repeat buyers of the token, indicating a growing interest in meme tokens. Additionally, the daily trading volume of $PEPE has been impressive, outperforming some non-meme tokens.

    Furthermore, the activity of whales in $PEPE has been an important factor in the token's price action, with existing whales deploying more capital and new ones entering the market. Finally, the impact of $PEPE on the Ethereum network has been reflected in the significant gas spend associated with transactions involving the token. Overall, the $PEPE craze and the broader trend of meme tokens are an interesting development in the cryptocurrency space and are worth following closely as the market evolves.