Memecoins
Ethereum Meme Coins to Buy Before ETH ETF Approval
The recent hype around the potential ETH ETF has investors looking for Ethereum meme coins to invest in. Ethereum Price Prediction shows that the ETF news has not yet sunk in. Additionally, ETH appears to be following Bitcoin’s trajectory after its ETF approval. BTC price pulled back after its ETF announcement before surging to $73,000.
Ethereum is a huge network, and meme coins are known to perform best during major market news events. However, not all meme coins are winners. Here are three meme coins to buy before the Ethereum ETF is approved in July.
1. Ethereum Meme Coins – Turbo (TURBO)
Turbo is the first AI-scripted meme coin in the history of cryptocurrencies. The token, which was launched on the Ethereum blockchain, was created using only a budget of $69 and following the advice of OpenAI’s ChatGPT. The community later stepped in and crowdfunded the initial liquidity needed to launch the project, as the previous $69 was not enough. Turbo is therefore a community token, which uses both meme coin and artificial intelligence (AI) stories of this bullfight.
TURBO’s price today is $0.004287, down 7% in the last 24 hours following the Bitcoin selloff. Turbo performed well after its launch, hitting an all-time high of $0.009632 two months ago before retracing. TURBO’s market cap is currently $294 million, enough to increase 10-20x and transform investors’ portfolios. TURBO’s 24-hour trading volume is down 28% as market participants refrain from trading in these market conditions.
The AI revolution in the crypto industry is accelerating rapidly, and even more so in the Ethereum meme coin ecosystem. Turbo and a few others AI-Based Meme Coins could be the first to run if Ethereum gets a win with ETF approval. The current price retracement puts TURBO in an optimal buying position.
2. Pepe (PEPE)
Pepe is one of the list of giant Ethereum coins that started as a joke, before quickly gaining popularity. The meme coin was inspired by Pepe the Frog, an internet meme from Matt Furie. Furie is also the creator of several other memes on the Ethereum chain, namely Landwolf, Andy (ETH), Bird-Dog, and Fofar. By extension, these meme coins have the potential to skyrocket along with PEPE.
The price of PEPE today is $0.00000876, which is down 4.6% in the last 24 hours. With a market cap of $3.6 billion, Pepe is down over 50% from its all-time high market cap. This is just one indicator of how volatile meme coins can be.
Despite this drop in price and valuation, the number of Pepe holders has increased by more than 5% in the last month and by 0.01% in the last 24 hours per Santiment.
Additionally, Pepe’s 24-hour trading volume just increased by 19%, which is a testament to the recent market activity. This means that even though blood is flowing in the markets, investors and traders feel comfortable continuing to invest in Pepe.
PEPE price showed incredible price performance after the announcement of the approval of the Ethereum ETF Forms 19-4b. Even though this approval was not real since it could be challenged, Pepe price still skyrocketed and reached an all-time high of $0.00001665 on May 28 before starting to retrace.
3. Floki (FLOKI)
Floki is one of the oldest meme coins that appeared just after the rise of Shiba Inu. Present for three years, Floki’s creation was inspired by Elon Musk, but has since grown from a simple meme coin to a globally recognizable brand. Floki has over 480,000 holders and benefits from multiple partnerships with sports clubs, DeFi Protocolsand popular blockchain companies.
Floki price is trading at $0.0001436, a price decline of 1.4% in the last 24 hours. The meme coin has seen three major spikes in its existence, one in November 2021 and the other two during the March-June period. Floki price action has formed a potential double top, which could lead to a further drop in price to $0.00003500. If the current support holds, Floki could enter a consolidation zone between $0.00033 and $0.00015.
As an ERC20 meme coin with a large holder base, Floki could be one of the best Ethereum meme coins to mine in the event of an ETF approval.
Conclusion
Anticipation of the potential approval of an Ethereum ETF is fueling interest in ERC20 meme tokens like Pepe, Floki, and Turbo. These tokens are attracting attention due to their ability to potentially yield high rewards in a short period of time. As the expected decision day approaches, price volatility in the cryptocurrency market could increase.
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Frequently Asked Questions (FAQ)
Speculation suggests that an ETH ETF approval is expected around mid-June.
Some analysts claim Ethereum could hit 6,600 after ETH ETF approval.
The first Bitcoin ETF was approved on January 10, 2024.