Ethereum

Memecoin

FLOKI

Gains

<ul>
 <li>PEPE Coin has surged over 30%, reaching a new all-time high of $0.00001422.</li>
 <li>BlockTower Capital sold 202 billion PEPE tokens for $2.8 million to Cumberland, making a 26% profit within six days.</li>
</ul>
In the latest wave of consolidation within the global crypto market, memecoins are once again driving significant gains. Leading this surge is PEPE, which has achieved a remarkable rise of over 30%, reaching a <a href="https://thenewscrypto.com/pepe-pepe-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">new all-time high</a> above $0.000014 in the early hours of trading.&nbsp;
As Ethereum (ETH) demonstrates increased strength, Ethereum-based memecoins, PEPE and FLOKI are following suit, with PEPE edging closer to the top 20 tokens, with a market cap of nearly $5.6 billion.
This surge followed reports that the U.S. Securities and Exchange Commission (SEC) had requested at least three securities exchanges to revise their applications to list spot Ethereum ETFs.
<h3 class="wp-block-heading" id="h-pepe-and-floki-lead-the-rally">PEPE and FLOKI Lead the Rally</h3>
PEPE has consistently shown <a href="https://thenewscrypto.com/pepe-bursts-to-all-time-high-after-a-long-term-bearish-trend/" target="_blank" rel="noopener noreferrer nofollow">strong performance</a> since the start of the month and has become one of the most traded assets on Binance. However, the price of PEPE has turned to a bullish pattern and is currently trading in an ascending channel pattern.&nbsp;
Notably, <a href="https://x.com/lookonchain/status/1793098936208740681" target="_blank" rel="noopener noreferrer nofollow">BlockTower Capital</a> recently transferred 202 billion PEPE tokens (valued at $2.8 million) to Cumberland for sale, just two hours after PEPE’s price crossed $0.000014. This follows BlockTower Capital’s acquisition of the same amount of PEPE (worth $2.22 million) six days earlier, resulting in a $578,000 profit and a 26% return on investment.
However, after surpassing the $0.00001422 mark, it is on the verge of testing higher targets at $0.00001458. With market sentiment turning bullish, expectations are high for PEPE to continue its upward momentum, aiming for the next milestone at $0.00001650 and potentially reaching new heights at $0.00002.
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="518" src="https://thenewscrypto.com/wp-content/uploads/2024/05/image-112-1024x518.png" alt="" class="wp-image-98803" srcset="https://thenewscrypto.com/wp-content/uploads/2024/05/image-112-1024x518.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/05/image-112-300x152.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/05/image-112-768x388.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/05/image-112.png 1302w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">PEPE Price Chart (Source: <a href="https://in.tradingview.com/symbols/PEPEUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
Meanwhile, FLOKI has also broken through a significant resistance phase, moving within a <a href="https://thenewscrypto.com/floki-floki-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">bullish pattern</a>. After a period of ascending consolidation, FLOKI’s price surpassed the resistance level, experienced a minor retracement to test the new support, and has now begun its ascent toward the next resistance zone between $0.000254 and $0.000266.&nbsp;
FLOKI has emerged as the top gainer today, with a rally exceeding 15%, when it was outpaced by Bonk (BONK), which saw a trade volume surge of over 20%, securing the sixth spot among top gainers.

Memecoin Mania; PEPE and FLOKI Report Double-Digit Gains

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