Get ready for a rollercoaster ride, because IntoTheBlock’s latest market intel will leave you on the edge of your seat! 🚀
Pepe & Friends: Memecoin Meltdown? 😱
Hold onto your hats, folks! IntoTheBlock’s newest post reveals the wild world of smaller tokens and memecoins compared to Layer 1 networks regarding recent activity.
The “Active Addresses” indicator, which tracks the number of addresses participating in daily transactions, is our on-chain metric of interest. A high value suggests user interest is high, while a low value implies not many investors are active on the chain.
Layer 1 networks, like Ethereum, Avalanche, and Litecoin, have seen a surge in activity. But what about our beloved memecoins? 🤔
Well, IntoTheBlock points out that smaller tokens and memecoins are “losing steam quickly” as fewer new users join the space. Let’s take a look at Pepe’s Active Addresses trend:
Uh-oh! Pepe’s Active Addresses peaked in November and have been on a downward spiral ever since. 📉 Could the memecoin’s price drop be scaring users away? 👻
Pepe Price: Hanging by a Thread 🧵
At the moment, Pepe is clinging to $0.0000093, down nearly 4% in the past week. Will it bounce back, or is this the beginning of the end? 😱
Stay tuned for more wild updates from the world of cryptocurrency! 🌍🚀
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2025-02-21 20:42