Pepe (PEPE) Soars to All-Time High as Traders Eye Ethereum ETF Approval

Pepe (PEPE) Surges 25% in 24 Hours, Spurred by Ethereum ETF Optimism

PEPE's recent bullish momentum in the last 24 hours has been significant, leading to a price surge of over 25%. This has propelled the coin to a new all-time high of $0.00001422. The primary catalyst for this surge is the renewed optimism surrounding the approval of spot Ether ETFs in the United States. This positive sentiment has spread to several cryptocurrencies built on the Ethereum blockchain, including meme coins like Pepe.

PEPE/USD 24-Hour Price Chart (Source: CoinMarketCap)

Pepe Market Sentiment

According to CoinMarketCap, Pepe is currently trading at $0.00001387, marking a 25% increase in the last 24 hours. Notably, PEPE's market capitalization and 24-hour trading volume have also surged by 23% and 89%, reaching $5.79B and $4.44B, respectively. This surge in trading volume is indicative of heightened market interest and confidence in the coin.

PEPE Derivatives Data

Open interest in Pepe, which represents the total number of outstanding futures contracts that have not been settled, has jumped by 39%. This indicates strong market confidence in PEPE's future performance.