Amid the $PEPE mania, crypto investors are tracking pepecoin whales to see what meme coin to buy next. This trend may have worrying implications for the wider market. By oknightcrypto
Anyone doing so is ignoring the fact that the shocking magnitude ofis rare. Digital assets that have very little – or no – fundamental value like dogecoin or Shiba Inu pop out of the ether every couple of years. But finding the next PEPE is next to impossible; every winner is surrounded by the ashes of many failures.
That doesn't stop people from trying. For some, that means simply copying whatever early PEPE investors have put their money into next. On-chain data makes this easy. Wallets holding a large amount of tokens can be tracked on sites likeOver the course of last weekend, several newly issued meme tokens surpassed PEPE in trading volume. This flurry of activity was down to whale watchers, people who buy assets based off what large wallets are doing.
This wasn't the only example. Bizarrely named meme tokens like RIBBIT, BOB, JEFF and WEN all experienced massive spikes in volume over the weekend. Amid this rush into meme coins, overall volume on Uniswap's decentralized exchange surged to $150 million an hour at numerous points on Saturday, way up from the typical $16 million to $30 million, according toAs attention switches to meme coins, other sectors like decentralized finance are beginning to suffer.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Arbitrum (ARB) Whale Accumulation Hits New High: $3 Million in DaysWhales grabbing more ARB tokens as they see potential in growth of L2 networks
Leer más »
New law requires WA boaters to keep 1,000 yards from southern resident killer whalesA new bill signed into law Monday requires Washington boaters to keep at least 1,000 yards away from southern resident killer whales. FOX13
Leer más »
Whopping 20 Trillion Shiba Inu (SHIB) Moved by Anon Wallets as Meme Token Season ContinuesAnon whales have shoveled 20 trillion $SHIB, leaving SHIBcommunity shocked. whale_alert shibburn
Leer más »
Bitcoin (BTC) Might Face Plunge to $24,000 If This Level BreaksBitcoin: Dangers lurk for BTC at this juncture, slump to $24,000 looms $BTC
Leer más »
What is Pepecoin? Meme token hit $1.6 billion market cap, crashed 70%What is Pepecoin? Everything you need to know about the meme token that notched a $1.6 billion market cap then crashed 70% within days
Leer más »