The Ethereum-based memecoin Pepe (PEPE) experienced a significant price surge of 40% since Monday to a new all-time high, fueled by the speculation that the U.S. SEC might approve spot ether exchange-traded funds (ETFs). Crypto traders and analysts, observing the movement between ether’s price rise and PEPE’s surge, speculate further growth for PEPE, reflecting the broader anticipation in the market regarding regulatory developments. Additionally, PEPE’s Open Interest (OI) increased by 40% to $172.96 million, indicating growing trader confidence on future price appreciation, despite potential short-term volatility and the risk of liquidation associated with large price swings.
PEPE Soars to All-Time High Spurred by Speculation of Spot Ether ETF Approval
This article was published more than a year ago. Some information may no longer be current.
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