Ethereum Fees Surge as Sandwich Bots Tailgate Traders of Pepe and Chad

Ethereum fees witness a surge as cryptocurrency bots spend millions to front-run traders of Pepe Coin and CHAD. As the cryptocurrency market experiences a surge in interest in meme-based tokens like Pepe and Chad, a new threat has emerged for traders – sandwich bots. These bots, which front-run, exploit vulnerabilities in decentralized exchanges (DEXs) to profit from unsuspecting users.

Their prime tactic: manipulating the way Ethereum processes and records transactions for surging tokens, like the new Pepe the frog-themed meme coin, PEPE. A new cryptocurrency called Pepe Coin was introduced this month and has attracted the interest of investors. The high demand for PEPE and other meme coins like CHAD has created a lucrative environment for these bots, driving up Ethereum gas fees significantly.

Data from Dune Analytics reveals that the Ethereum gas fees have spiked as a result of these sandwich attacks. A wallet named “Jaredfromsubway.eth,” a likely nod to the popular sandwich chain, has spent over $2 million in the past week on Ethereum network fees trying to sandwich traders punting on these volatile assets. The user has spent over $2 million on Ethereum gas fees alone to carry out sandwich attacks. A wallet named “Jaredfromsubway.eth,” a likely nod to the popular sandwich chain, has spent over $2 million in the past week on Ethereum network fees trying to sandwich. This illustrates the scale and profitability of this practice, but also the increased costs for regular users on the Ethereum network.

Traders should be aware of the risks associated with trading meme coins on Ethereum and take precautions to mitigate the impact of sandwich bots. Techniques include using limit orders and slippage tolerance settings to protect against unexpected price fluctuations during transaction execution.