Ethereum Meme Coins PEPE, MOG Hit Lifetime Highs on Ether ETF Filing Approvals
Ether surged more than bitcoin over the weekend on renewed optimism for the second-largest cryptocurrency.
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Ether surged more than bitcoin over the weekend on renewed optimism for the second-largest cryptocurrency.
One trader said ether’s sell-off on positive news is a typical speculator’s “buy the rumours, sell the facts” reaction.
Traders on Lyra have snapped up ether calls at the $5,000 strike and higher this week.
Bitcoin spot ETFs in the U.S. have seen net inflows of over $1.4 billion in the past week after a timid first half of the month.
Analysis by Nansen shows that early TRUMP holders made an ROI of over 1,600% from the PoliFi token.
Meme coins have been increasingly seen as a way to bet on the growth of the underlying network they are issued on.
Some traders expect ether prices to reach as high as $4,000 in the coming days, with odds of an ether ETF approval raised to 75%.
One trader said rising risk appetite for alternative assets could cause bitcoin to exceed the $70,000 level over the weekend.
Ether’s sell-off has stalled at an upward-sloping trendline, characterizing the rally from October lows.
The ether-bitcoin ratio slides to a three-year low, extending year-to-date losses to nearly 16%.