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Ethereum took off: These 3 memecoins are flying!
Spot ETH ETF news has directly affected the memecoin market.
Famous ETF analysts James Seyffart and Eric Balchunas' evaluations of the spot ETH ETF delighted the crypto industry. According to news published on May 20th, the analysts increased the probability of ETF approval from 25% to 75%. Thanks to this development, Ethereum rallied from $3070 to $3720, experiencing a 21% increase in a short period of time. So, which memecoins made their mark on this process?
1- Mog Coin (MOG)
MOG, the popular name for cat-themed memecoins, has seen a 62.58% increase in the past 24 hours with the rise of ETH. With a lower market value compared to other memecoins, MOG has experienced a sudden surge. Currently, MOG is not listed on tier-1 exchanges, but if its upward momentum continues, it may catch the attention of various crypto exchanges.
2- Dogecoin (DOGE)
Dogecoin, which has been diverging from the meme coin category for a while, has once again followed the trend. With Ethereum taking the lead, it has shown a performance of more than 10%. Dogecoin, which has a more stable price structure compared to most meme coins, could experience a surge with a move from renowned businessman Elon Musk. Dogecoin investors continue to eagerly await.
3- Pepe (PEPE)
Highly valued memecoins have seen a significant increase in recent times, and PEPE has emerged as the top performer with a growth of 25.59% in a short period. Even during the market downturn, PEPE has remained strong compared to other memecoins, signaling a bullish trend. In a period where ETH is being positively priced, PEPE seems poised to leave its mark on the 2024 bull run.
This article does not contain investment advice or recommendations. Every investment and trading activity involves risks, and readers should conduct their own research when making decisions.