Analysis

Our on-chain analysis of the $PEPE token's buying and selling activity reveals intriguing patterns in the behavior of different token holders. The graph presents a detailed breakdown of the swap volume by the token holdings of the swappers, offering valuable insights into market sentiment and the token's impact on the Ethereum network. The data highlights a significant imbalance between buying and selling activity, with a vast majority of the swaps being purchases of the $PEPE token. Interestingly, the dominant buyer group comprises users holding less than 0.001% of the total token supply. These small holders have collectively bought nearly $100 million worth of tokens, while all other user groups have bought less than $11 million worth of tokens, indicating strong demand from a diverse group of investors. In terms of selling activity, the largest group of sellers also consists of small users, but their total sales amount to only $300K, showcasing a significantly higher buying volume compared to selling volume. Examining the impact of the $PEPE token on the Ethereum network, we observe that on April 19th, transactions involving the token accounted for 3% to 8% of the total network activity. In terms of gas fees spent, these transactions made up between 5% and 20% of the network activity, reflecting the influence of Meme tokens on the broader crypto ecosystem. This comprehensive analysis of the $PEPE token's buying and selling activity, along with its effect on the Ethereum network, provides professional on-chain analysts with valuable insights to better understand market dynamics and the potential implications of Meme token trading. By closely monitoring these trends, investors can make more informed decisions and anticipate market shifts that may impact their investments in $PEPE and other Meme tokens.

The Meme Token Craze