Ethereum Meme Coins PEPE, MOG Hit Lifetime Highs on Ether ETF Filing Approvals

📆 5/27/2024 9:06 AM
📰 CoinDesk

⏱ Reading Time:
24 sec. here
2 min. at publisher
📊 Quality Score:
News: 13%
Publisher: 63%

Coin Coin Headlines News

Coin Coin Latest News,Coin Coin Headlines

Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

Two Ethereum ecosystem tokens, PEPE and MOG, climbed to new highs on the back of U.S. ether ETF filings approvals, with traders treating them as beta bets.

The gains came as ether rose nearly 5% over the same period, leading the advance among major tokens as bitcoinFutures data shows open interest on pepe and mog-tracked instruments spiked up in the past 24 hours. PEPE open interest rose to $720 million from last week’s $550 million, while for MOG the figure rose to $8.3 million from $5 million. Rising open interest is considered a sign of new money entering the market, which may foreshadow further price volatility.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SHIB, PEPE, FLOKI, BONK: Meme Coins Amid Best PerformersAs cryptocurrency market optimism surges, largest meme cryptocurencies lead way
Source: Utoday_en - 🏆 295. / 63 Read more »

AI, meme coins and prediction market tokens soar ahead of Ethereum ETF decisionEthereum extended gains by 30% in the past seven days, as seen on CoinGecko.
Source: FXStreetNews - 🏆 14. / 72 Read more »

357.3 Billion PEPE Purchased on Binance After Major Meme Coin DevelopmentMassive amount of PEPE meme coins exits Binance to new cryptocurrency wallet
Source: Utoday_en - 🏆 295. / 63 Read more »