GameStop Who? Ethereum ETF sends hype crypto memes flying

Remember last week's GameStop-fueled meme stock rally that helped propel meme coin prices? Well, the crypto narrative has already changed, and now it's the Ethereum ETF hype that's troubling the markets… and yes, meme coins are flying again.

After exploding to historic strength late Monday, Ethereum (ETH) is rising some 23% in In the midst of renewed rumors surrounding the Ethereum ETF renewal, a few notable coins seem to be on the verge of a trip to the moon outside of the match—surprisingly including one of these. Solana The most popular meme tokens.

Pepecoin (PEPE), one of Ethereum's top meme coins, has soared. very 32% In the last 24 hours. The streak pushed PEPE to a new all-time high above $0.0000128—albeit worth a fraction of a percent. For the first time, too, the meme coin has surpassed $5 billion in capitalization.

What caused the main inflammation? PEPE – almost exactly – seems to be mirroring the growth of ETH.

Later Rumor As word began circulating on Wall Street yesterday that applications to trade ETH ETFs may soon be approved – instead of being denied as many had expected – ETH immediately began climbing higher yesterday afternoon. It hasn't stopped yet. Breaking $3,800 Usually Tuesday morning.

Up to the minute, Pepe actually started moving yesterday afternoon when ETH rose. Aside from being one of the highest-profile coins on Ethereum, it's unclear what PEPE has to do with the ETH ETF saga. Meme coins are particularly volatile and can be swayed by social media sentiment, however, PEPE may feel the love as traders revel in ETH gains.

The above two note coins, however, have made huge gains. Dogecoin is powered by its own chain. 10% increased In the last 24 hours; Shiba Inu, the only Ethereum meme coin bigger than PEPE, has risen. less than 6%.

Another big beneficiary during ETH's growth is, curiously, Solana. BONK, one of Solana's top meme coins, has surged as much as 33% since yesterday, before stabilizing, in writing, in value. 19% increased In the last 24 hours—but it's still worth a fraction of a coin at $0.00003127.

BONK ETH and PEPE started to rise slightly after a couple of hours on Monday afternoon. On the last day, however, it went on par with the gargantuan finds of those coins.

Some have referred to the BONK development as a culmination of the weekly token distribution of the aid program.

As others have pointed out, however, there is plenty of BONK to be distributed by other initiatives over the next couple of years.

SOL itself, meanwhile 2% decreased On the last day – but it's up about 24% for the week.

Edited by Andrew Hayward.