Uniswap Data On PEPE Coin Reveals Picture Of Memecoin Craze

Crypto Market News: It would be an understatement to say PEPE Coin launch was successful. The memecoin craze in the last one week has been so high that it is standing put among the cryptocurrencies clocking highest transaction volumes. It hardly took the coin two weeks of time to break into the top 100 club of tokens with largest market capitalization. On Friday, PEPE crossed the $1 billion market cap, thanks to a 92% rise in the last 24 hours.

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Meanwhile, the daily trading volume for the cryptocurrency is highly impressive, overtaking some of the busiest cryptocurrencies. Also, other memecoins have also launched in quick succession after PEPE’s launch. As a result, the Ethereum gas fees went up to the 12 month high level.

PEPE Coin Trades Get $10 Million Worth ETH Gas Burn

According to Uniswap data, PEPE Coin traders have burned around 5,300 ETH worth $10 million in gas fee over the past 3 weeks. This was due to as many as 413,283 PEPE Uniswap transactions in the same period, which is since April 28, 2023. Meanwhile, CoinGape recently reported that crypto exchange Binance is about to list Pepe Coin. Binance said it will list two spot trading pairs PEPE/USDT and PEPE/TUSD on May 5, 2023.

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Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Reach out to him at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.