
April 11th, 2025
DeFi tokens and meme coins in the Ethereum ecosystem have the highest centralization, with the top 10 investors controlling the lion’s shares.
The rise of frog-themed Pepe to the top of the meme coin industry is majorly pegged to its deep liquidity, vibrant online community, and huge institutional support.
The Trump-themed meme coin MAGA has experienced a 20% rise in value, accompanied by a 100% increase in trading volume, now at $6.92 million.
Since the hack happened, the exchange has carried out several processes to restore its users’ funds and prevent a recurrence.
In addition to his PEPE investments, the whale also acquired other cryptocurrencies, including Ether (ETH).
PEPE’s performance in 2024 has been impressive, with a daily average trading volume exceeding $700 million, placing it second in the memecoin sector after Dogecoin (DOGE).
Crypto traders saw their leveraged positions forcibly closed as the coin’s value dropped below critical levels.
Between July 1 and 15, DOGE saw its value drop by more than 50%, while PEPE plummeted by 36%. Other meme coins like Dogwifhat (WIF) and Shiba Inu (SHIB) also declined dramatically during the same period.
Cyvers had detected the suspicious transactions and attempted to contact WazirX 30 minutes prior to their public announcement, but received no reply.
PEPE saw a surge of 24% in the past 24 hours. Currently, the token boasts a market cap of $4.9 billion.
The rapid rise of meme coins can be attributed to their viral nature and the strong communities behind them.
Pepe reached an all-time high of 256,000 holders, bringing the attention of the digital asset sector to the meme coin.
The decline of these three tokens has also affected the entire meme coin market. The meme sector is currently valued at around $43.21 billion.
WIF has seen its value soar by more than 900% over the past year. Similarly, PEPE has surged by approximately 500% during the same period.
The cryptocurrency market continues to endure a severe downturn, resulting in the liquidation of 32,916 traders.