The current surge in memecoin activity is driving a high demand on the Ethereum network, pushing gas costs up to a peak of 87 Gwei on May 2. This over-demand has caused an increase in user fees in the long run, as the network continues to experience a surge of transactions due to the hype around the upcoming Shanghai upgrade. However, the market has hit a slowdown, causing both the price and the market capitalization of ETH to drop. Currently, ETH is in a bearish trend, with a downward trending Average Directional Index (ADX) and a Relative Strength Index (RSI) below its signal line. All of this has put investors in a difficult position, as they would have to decide whether or not to sell their shares or wait for a better timing. Therefore, it is better to keep up with the market trends, be aware of the potential risks, and act accordingly.



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