ETH Median Fee Surges to 12-Month High as PEPE Frenzy Grips Market

'Pepe the Frog' Memecoins Rocket as Crypto Twitter Moves Over Doge Obsession

The daily median gas price, or transaction cost, hit a 12-month high of 87 gwei (one gwei is a billionth of an ether) early this week. The value has increased more than 50% since the launch of the PEPE token on April 18, according to pseudonymous analyst @hildobby’s Ethereum Gas tracker on Dune Analytics. At one point on Monday, the one-minute median gas price surged well past 150 gwei.

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