ZIOPTO PEPE Surges 28% Hits New High as ETH Rises on ETF Approval
Crypto trader Matthew Hyland PEPE as the top memecoin play for ETH ETF, reflecting market optimism, while “Kaleo” humorously linked ETH’s movement to PEPE’s success as an obvious trade.
Ether itself surged 21.15% in two days to $3,801, fueled by hopes of SEC approval for Ether ETFs before the May 23 deadline, surprising analysts and the crypto community.
As per data, PEPE’s current price is $0.00001348, marking a 21.72% increase in the past day. Pseudonymous trader “Plazma” a continued upward trajectory for PEPE, expecting a 2x-3x increase in the coming weeks despite potential volatility.
Moreover, PEPE’s Open Interest (OI) surged by 40% to $172.96 million, indicating heightened trader confidence in future positions. Notably, a 6% drop in PEPE’s price could lead to the of $12.21 million in long positions.
While PEPE led the top 10 memecoins in price growth, other memecoins like BONK (BONK), Floki (FLOKI), and Book of Memes (BOME) also witnessed significant price surges over the past week, showcasing a bullish sentiment across the memecoin market.
