In a gold rush the shovel makers are usually the biggest winners, and this is no different with crypto trends.

Sandwich bots have been the first to buy new tokens like pepe (PEPE), and chad(CHAD) that had no intrinsic value but were a hit with Crypto Twitter users almost immediately as tokens skyrocketed by over 10,000%.

Sandwich attacks trap a user between two transactions which are then further manipulated for profit. The attacker can do this by purchasing the same asset and selling tokens at a higher price to the victim.

Sandwich attacks are not typically considered an exploit, but they are viewed in crypto circles, as a predatory behaviour that takes value from users and increases gas fees, without benefiting the network or user.

Sandwich bots may not be noticed by the victim, but they can make millions of dollars because they are able to target thousands of wallets at a time and steal a few dollars from each one.

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 predominantly low-cap tokens.

Dune Analytics data shows that fees for the entire network have increased. As of Wednesday morning, each transaction on the Ethereum Network costs more than $10 – 10 times what it cost last week.

The cost of gas has risen. (Dune)

Data shows that Jaredfromsubway.eth spent 7% of Ethereum fees in the last 24 hours. They are the largest spenders on the network.

This is more than the fees paid by Arbitrum, a layer-2 blockchain that batch-transactions on the Ethereum network and Uniswap – the most popular decentralized exchange.

Jaredfromsubway.eth has not disclosed how much they made, but the gains are likely to be greater than their costs.

As such, research firm Sealaunch has estimated Jaredfromsubway.eth’s gains at over $1.4 million since Tuesday, as per a tweet.

The pepe frenzy continues to be in full swing. As CoinDesk reported , the value of Pepe tokens has nearly doubled over the last 24 hours. Crypto Twitter traders have moved away from their DOGE token obsession and are now betting on the internet meme.

Pepe wannabes, chads, wojaks, and babypepes are all internet memes.

The majority of these will not last more than a few months. However, unlike back then, Jaredlikesubway.eth eats the gains as they are.

Parikshit Miishra is the editor.