PEPE is up 27% over the day amid renewed hope for the approval of United States spot Ether ETFs.
Ethereum-based memecoin Pepe (PEPE) surged 27% to a new all-time high over the past 24 hours driven by speculation around the potential United States approval of spot Ether (ETH) exchange-traded funds (ETF).
“PEPE is probably the best memecoin play for the ETH ETF,” crypto trader Matthew Hyland claimed in a May 21 X post.
Pseudonymous crypto trader “Kaleo” added it was funny how ETH is moving and PEPE is now one of the most obvious hindsight trades out there.”
