Hot coin meme! “baby” Make a new high price Among the prices Ethereum That rose from the hope of approval Spot ETFs Which is getting closer every moment!
The US Securities and Exchange Commission will consider approving the Spot Ether ETF by May 23, which is now the opinion of analysts and people working in the cryptocurrency industry. It has changed to the positive side from before when it was expected that it would be very difficult to get the green light.
Meanwhile, PEPE, a meme coin built on the Ethereum blockchain, rose 23% in 24 hours to a new all-time high. Analysts are boosted by speculation that a Spot Ether ETF may be approved in the US.
According to Coinmarketcap, PEPE hit a new all-time high (ATH) of $0.00001422 8 hours ago (May 22) and recently fell to $0.00001365 or more than 4 hours away from the ATH%.
Written by Matthew Hyland, a cryptocurrency trader with over 140,000 followers posted on
The trader under the pseudonym “Plazma” expects that the PEPE price trend will continue to search for suitable price levels for another 2-3 weeks, with some interruptions and contractions being normal. The price is expected to rise 2-3 times in the next few weeks.
Data from CoinGlass indicates that open PEPE interest (OI) in the derivatives market reflects the total value of open PEPE futures contracts which increased by 40% to $172.96 million over the past 24 hours.
On the whole, the increase in OI reflects that investors are more confident in opening future positions on cryptocurrencies, and the data indicates that a large number of long positions have been opened. If the price of PEPE falls by 6%, $10 million of long positions will be liquidated.
Over the past 24 hours, PEPE has been the champion of coin price growth among the top 10 meme coins with the highest market capitalization, however, other leading meme coins have been There have also been significant price increases over the past week, including a rise in Bonk ( BONK) at 40.80%, Floki (FLOKI) at 21.94%, and Book of Memes (BOME) at 25.04%.
source: com. cointelegraph
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