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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/speculation-boosts-ethereum-based-memecoins" data-wpel-link="internal">Speculation Boosts Ethereum-Based Memecoins</a><br></p>
<p style="text-align: justify">In the past week, Ethereum (ETH)-based memecoins have seen a substantial price increase due to growing speculation regarding the approval of a spot Ethereum exchange-traded fund (ETF) in the United States. Bloomberg analysts recently raised the probability of such an approval from 25% to 75%, sparking this speculation. Consequently, ETH’s price hit its highest level in recent years, showing a positive upward trend for the second consecutive day. This optimism surrounding ETH led to notable price surges in Ethereum-based altcoins, particularly memecoins.</p> 
<h2 id="which-memecoins-surged-the-most">Which Memecoins Surged the Most?</h2> 
<p style="text-align: justify">Among these memecoins, the PEPE token stood out with a remarkable performance. PEPE, a frog-themed <a href="https://en.bitcoinhaber.net/pepe-coin-experiences-significant-gains-with-march-price-predictions" data-wpel-link="internal">memecoin</a>, surged by 25.86% in the last 24 hours with a trading volume of $3.9 billion, reaching an all-time high of $0.00001422. This increase elevated PEPE’s market value to $5.6 billion. Over the last seven days, PEPE rose by 25.5% and by 126% in the last 30 days, indicating heightened market interest.</p> 
<p style="text-align: justify">Smart <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">investors</a> significantly benefited from this surge, with on-chain activity showing whales profiting from PEPE. The altcoin formed a symmetrical triangle pattern on the daily price chart and has a year-to-date (YTD) return of 940%. Another memecoin, FLOKI, also demonstrated a significant upward trend. Trading at $0.000227, FLOKI formed an ascending channel pattern since mid-April, with a YTD gain of 547%. The Relative Strength Index (RSI), supported by the rising Simple Moving Average (SMA), indicates increased buying interest. If the upward momentum continues, FLOKI may test $0.00030; otherwise, it could fall to $0.000199.</p> 
<h2 id="why-is-shiba-inu-shib-gaining">Why is Shiba Inu (SHIB) Gaining?</h2> 
<p style="text-align: justify">Shiba Inu (SHIB), one of the most recognized coins, continues to maintain its strong market position. Trading at $0.0000255, SHIB achieved significant gains alongside PEPE and FLOKI. Over the past week, SHIB gained 11% and demonstrated an impressive YTD rise of 1,546%. The overall bullish sentiment fueled by the speculation around the spot Ethereum ETF also benefited SHIB.</p> 
<h2 id="key-takeaways">Key Takeaways</h2> 
<p style="text-align: justify">– PEPE surged by 25.86% in 24 hours, hitting an all-time high of $0.00001422, with a market value of $5.6 billion.<br> – FLOKI formed an ascending channel pattern, with potential price targets of $0.00030 or $0.000199.<br> – SHIB saw an 11% increase last week and a 1,546% YTD rise.</p> 
<p style="text-align: justify">The substantial price increases in Ethereum-based memecoins reflect heightened market interest and speculation regarding the approval of a spot Ethereum ETF in the U.S. Investors and market analysts will be closely monitoring these trends to capitalize on potential gains.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/speculation-boosts-ethereum-based-memecoins" data-wpel-link="internal">Speculation Boosts Ethereum-Based Memecoins</a></h5>

Speculation Boosts Ethereum-Based Memecoins

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