![]() ![]() ![]() The meme token is up around 58% compared to the top cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH). As Pepe reached a new all-time high today of $0.000002322 while Wojak hit $0.001084, as per CoinMarketCap.Īt the time of writing, the Pepe token traded at $0.000002103 with a 24-hour trading volume of $800 million, which climbed about 221%. Also, the 24-hour trading volume for this memecoin surged more than 216% over the night to reach $784 million.Īdditionally, every day, PEPE and WOJAK are setting new records. Today, the Pepe token market cap reached over $859 million before dropping once more to under $400 million. Also, both crypto tokens attracted investors with massive returns and an unprecedented price rally. On May 2, the median average transaction fee on the Ethereum network soared to around 87 gwei, according to Dune Analytics. Rising Transaction Fees: A Cause For Concern. Ethereum is the Memecoins Playground?Ī new Ethereum-based frog-themed token, PEPE, has seen a rapid rise in market capitalization, with WOJAK following in its footsteps. The network has been experiencing a surge in activity due to the increasing popularity of memecoins such as PEPE, which has caused fees to spike. For comparison, the rate so far this year has fluctuated between roughly 82% year to date. According to data by Bitinfocharts, it cost an average of 5. The most significant increase occurred in the last week, as the price of bitcoin soared on growing institutional interest. dollars has increased, the cost to move ether and the myriad of ERC20 tokens has also risen. Fees shot up more than 350 during the last thirty days to Oct. A spike in transactions on the Ethereum blockchain also involving meme-based tokens such as Pepe (PEPE) and Wojak (WOJAK) has driven up traffic on the network, pushing the average fee rate to the highest in nearly one year while showering “Stakers” of the cryptocurrency with extra revenue.Īccording to Dune Analytics, the Ethereum network’s daily median average transaction fee spiked to about 87 gwei on Tuesday, the highest since May 2022. Bitcoin transaction fees are on the rise again. Today, PEPE and WOJAK are setting new all-time high records.Įthereum (ETH) transaction fees have again hit highs since May 2022. ET), the average and median transaction fee on Ethereum reached as high as 23.43 and 11.The Ethereum network’s daily transaction fee spiked to about 87 gwei, the highest since May 2022. ![]()
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