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On May 11, Milady (LADYS), the self-organized memecoin of the namesake anime avatar nonfungible tokens (NFT) collection, surged by over 5,250% within 24 hours to trade at a $0.0000001528 at the time of publication. The day prior, American business magnate Elon Musk tweeted a meme using the imagery of a
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As the hype surrounding the Pepe memecoin intensifies, bad actors have started to take notice, resulting in scam attempts now plaguing the crypto space. According to blockchain security firm PeckShield, there have been at least 10 memecoin scams created in the last three days alone. The firm detected and reported scam
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On May 8, Litecoin executed more than 525,000 transactions in a day, coming close to Bitcoin’s 575,000 daily transactions, according to blockchain data from BitInfoCharts. It is five times the average number of transactions on the Litecoin blockchain compared to earlier this year and more than double the previous all-time
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A single trader just spent a staggering 64 Ether — equivalent to $118,000 — in gas fees purchasing $155,000 worth of a memecoin called Four (FOUR).According to an update from the popular blockchain tracking service Whale Alert, the lone trader paid an astonishing $119,157 in Ether (ETH) to complete a
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Top Stories This Week Memecoin hype drives Bitcoin transaction fees to multi-year highs The ongoing trading frenzy of memecoins like Pepe has triggered an unwanted consequence for Bitcoin (BTC) — raising its transaction costs to their highest point in
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The frog-themed memecoin Pepe (PEPE) surged over 85% in the last 24 hours and surpassed a $1 billion market cap three weeks after it was first launched on April 14, 2023.PEPE memecoin price breaks $0.000003 on May 5. Source: CoinGeckoIronically, the core value proposition of PEPE is that there isn’t
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Bitcoin transaction fees surged in early May, reaching their highest point over the past two years, according to data from Crypto Fees.On May 3, the total amount of fees paid on the Bitcoin blockchain reached $3.5 million, jumping about 400% from late April. The average Bitcoin transaction fee reached as
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A moderator of the popular trading subreddit r/WallStreetBets has dumped a large portion of the WSB Coin (WSB), a token project that claims to be the official memecoin of Wall Street Bets.On May 2, WSB was launched by people involved in moderating the WallStreetBets Reddit forum. The subreddit gained notoriety
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PEPE's price action is reminiscent of dogecoin over the years with intense volatility being caused by an absence of liquidity or sustainable demand. The price of dogecoin dramatically fell on numerous occasions when hype began to subside. In this case, PEPE could face sell pressure when derivative markets go live
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Ethereum network’s gas fee skyrocketed to a new multi-month high amid a growing memecoin frenzy. The high transaction fee has swelled Ethereum’s daily revenue multifold compared to Bitcoin (BTC). While Ethereum proponents celebrated the growth in revenue, many others were quick to point out the growing congestion on the network
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