PEPE reaches new high amid ETH price jump on renewed ETF approval hopes
Pepe is up 27% during the day amid renewed hope for the approval of United States-based spot Ether ETFs.
Ethereum-based memecoin Pepe surged 27% to a new all-time high over the past 24 hours, driven by speculation around the potential approval of spot Ether exchange-traded funds (ETF) in the United States.
“PEPE is probably the best memecoin play for the ETH ETF,” crypto trader Matthew Hyland claimed in a May 21 X post.
Pseudonymous crypto trader “Kaleo” added it was funny how ETH is moving and PEPE is now one of the most obvious hindsight trades out there.”
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Author: Ciaran Lyons
