I wallet attivi associati alla crypto Pepe sono recentemente raddoppiati, contemporaneamente all’incremento del prezzo record della meme coin di Ethereum.
The meme coin Pepe, inspired by the frog, has marked several new all-time highs this month, continuing to grow after the authorization of spot ETFs on Ethereum. Let’s see all the details below.
Summary
Ethereum meme coin: the explosive growth of the wallets of the crypto Pepe
As anticipated, in the last thirty days, the number of blockchain addresses that have made transactions in Pepecoin (PEPE) has exploded, more than doubling.
Thanks to the recent approval by the SEC of the main meme coin Ethereum and the consequent bull of its price.
According to the data provided by IntoTheBlock, the daily active addresses holding PEPE have grown by 230% to reach 9,830.
This growth rate has surpassed that of other meme coin, such as Floki, which recorded a 179% increase in daily active addresses during the same period.
In the meantime, the daily number of active addresses for Dogecoin has increased by 10%, reaching 53,000.
Both tokens, Pepecoin and Floki, are built using the ERC-20 standard of Ethereum and are present on the network as assets traded with a certain frequency.
Tuttavia, alla luce dell’approvazione degli ETF spot su Ethereum, il prezzo di entrambi i token è balzato di oltre il 27% ciascuno nell’ultima settimana.
Sebbene non rappresenti una metrica perfetta, il monitoraggio del numero giornaliero di indirizzi attivi può fornire indicazioni sulle tendenze di adozione o sui modelli di utilizzo di una rete.
Among the cryptocurrencies monitored by IntoTheBlock, the number of daily active addresses has increased in the last month for Pepecoin, confirming the growing interest among investors.
Memes, volatility and growing interest of investors
The meme coin Pepecoin, based on the famous meme Pepe the Frog created by Matt Furie in 2005, was launched last April with the intent of adding a bit of fun to the mondo delle criptovalute.
Tuttavia, l’interesse della comunità crypto per le meme coin ha recentemente raggiunto un punto di ebollizione, diventando una dominant trend nonostante la famigerata volatilità e i rischi associati.
Despite the closure of the US stock markets for Memorial Day on Monday, cryptocurrency traders pushed the value of Pepecoin to its all-time high of $0.00001698 that day.
Sebbene la meme coin abbia registrato guadagni annuali che sfiorano il 1.000%, ha subito una flessione del 4,8% nell’ultimo giorno di martedì.
Despite this correction, the vast majority of Pepecoin holders have gains on paper, with 97% of investors in profit and only 2.73% at break-even prices, according to IntoTheBlock.
In the meantime, the cryptocurrency industry continues to gain greater legitimacy on Wall Street with the approval of products that expand investors’ access to digital assets.
However, some prominent figures have expressed concerns about the potential damage caused by meme coin. Despite this, the interest of cryptocurrency traders in these coins seems to continue to grow.
Despite the market capitalization of Pepecoin being ranked 22nd among all cryptocurrencies, with a value of 6.75 billion dollars, the cryptocurrency based on the famous meme was traded at the 7th place in the last day.
With a trading volume of 1.7 billion dollars, positioning itself behind only Bitcoin, Ethereum, Solana and several stablecoins.
The accumulation of a crypto whale causes the boom of Pepe
The data provided by the cryptocurrency analysis company Lookonchain reveal a recent accumulation of a cryptocurrency whale in an altcoin.
Analyzing the onchain data, it emerges that a gigantic cryptocurrency whale has withdrawn 7.95 million dollars of Ethereum and 2.06 million dollars of PEPE from Kraken, the second largest cryptocurrency exchange in the United States.
Examining further transactions of the whale, it emerges that it has purchased a total of 18 million dollars of Ethereum in the previous two days, accumulating these ETH at an average price of 3,828 dollars.
At the moment, the price of Ethereum is traded at around $3,916, with its latest peak at $3,963, nearing the $4,000 threshold.
An analysis of the PEPE transactions of the whale reveals that it accumulated 8.03 million dollars in tokens from March 16 at an average price of 0.00001 dollars. The profit of the whale on PEPE was a whopping 3.17 million dollars.
As already highlighted, the increase in the price of PEPE and the surge of Ethereum are closely related.
With the approval of Ethereum spot ETFs, almost all tokens in the ETH ecosystem have experienced a price surge, with a particularly strong impact on meme coins.
