Pepe Memecoin Soars 27% Speculation of Spot Ether ETF Approval

Ethereum-based memecoin Pepe surged by 27% to a new all-time high in the past 24 hours, driven by speculation about the potential approval of spot Ether exchange-traded funds (ETFs) in the United States.

PEPE is probably the best memecoin play for the ETH ETF. ETH's movement made PEPE one of the most obvious hindsight trades.

PEPE has risen 23.28% over the past two days to $3,785, fueled by renewed optimism that the U.S. Securities and Exchange Commission (SEC) may approve spot Ether ETFs by the May 23 deadline—an unexpected development for analysts and the crypto industry.

Currently, Pepe (PEPE) is trading at $0.00001387, up 23.48% over the last 24 hours. PEPE led the price growth among the top 10 memecoins by market capitalization in the past 24 hours. Other top memecoins also experienced significant price increases over the past week, with Bonk (BONK) up 40.80%, Floki (FLOKI) up 21.94%, and Book of Memes (BOME) up 25.04%.