![Uniswap’s [UNI] rise and the memes that keep it afloat: The how and why of it all](https://i.headtopics.com/images/2023/5/6/cryptoamb/uniswap-s-uni-rise-and-the-memes-that-keep-it-aflo-uniswap-s-uni-rise-and-the-memes-that-keep-it-aflo-1654705802966335489.webp)
Uniswap witnesses a massive surge in activity due to rising interests in memecoins. Activity on the social front for these memecoins continues to surge as DEXes reap the rewards.
. This was due to the fact that PEPE garnered large amounts of attention from the crypto community in a short span.
This attraction in PEPE resulted in a surge in its market cap. This spike in attention spilled over to other memecoins such as DOGE as well. However, despite a spike in attention for DOGE, it wasn’t able to witness the same amount of growth as PEPE. Due to the low number of addresses holding PEPE, the holders of this memecoin could be vulnerable to rapid price movements caused by the behavior of whales.As the memecoin sector continues to get competitive, DEXes such as Uniswap reap the rewards of user behavior. The number of active users on the Uniswap platform has reached a level not seen since May 2021, as per Dune Analytics’ data.
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