Altcoin
Ethereum Meme Coins To Buy Before the ETH ETF Approval
The recent hype around the potential ETH ETF is causing investors to scout for Ethereum meme coins to invest in. Ethereum price prediction shows the ETF news is not yet priced in. Furthermore, ETH seems to be following Bitcoin’s trajectory following its ETF approval. BTC’s price retraced after its ETF news before surging to $73,000.
Ethereum is a huge network and meme coins are famous for being the best runners during impactful market news. However, not all meme coins are winners. Here are three meme coins to buy before the Ethereum ETF gets approval 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 guidance from OpenAI’s ChatGPT. The community came in later and crowd-funded the initial liquidity required to launch the project, as the previous $69 was not enough. Turbo is therefore a community token, riding both the meme coin and artificial intelligence (AI) narratives in this bull run.
The price of TURBO today is $0.004287, a 7% drop in the last 24 hours following Bitcoin’s sell-off. Turbo did well following its launch, hitting an all-time high of $0.009632 two months ago before retracing. TURBO’s market cap is currently at $294 million—enough to surge 10–20X and transform investors’ portfolios. TURBO’s 24-hour trading volume is down 28% as market participants refrain from trading during these market conditions.
The AI revolution in the crypto industry is picking up fast, and more so within the Ethereum meme coin ecosystem. Turbo and a few other AI based meme coins may be the first runners if Ethereum gets a win with ETF approval. The current price retrace sets TURBO in an optimal buy-in position.
2. Pepe (PEPE)
Pepe is among the top list of the giant Ethereum meme coins that started as a joke, before quickly garnering popularity. The meme coin was inspired by Pepe the Frog, an internet meme by 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 soar along with PEPE.
The price of PEPE today is $0.00000876, which represents a drop of 4.6% in the last 24 hours. Sitting at a market cap of $3.6 billion, Pepe has fallen by over 50% from its all-time high market cap. This is just an indicator of how volatile meme coins can be.
Despite this fall in price and valuation, the number of Pepe holders is up over 5% in the last month and $0.01% in the last 24 hours per Santiment.
Additionally, the 24-hour trading volume for Pepe just rose by 19%, signaling recent market activity. This means that even though there is blood in the markets, investors and traders feel comfortable continuing to invest in Pepe.
PEPE price showcased incredible price performance following the announcement of the approval of Ethereum ETF 19-4b forms. Even though this approval was not the real thing since it could be contested, Pepe’s price still soared and hit an all-time high price of $0.00001665 on May 28 before beginning to retrace.
3. Floki (FLOKI)
Floki is one of the older meme coins that came out right after Shiba Inu’s rise to popularity. Having been around for three years, Floki’s creation drew inspiration from Elon Musk but has since transformed from just a meme coin to a recognizable brand all over the world. Floki has over 480,000 holders and boasts multiple partnerships with sports clubs, DeFi protocols, and popular blockchain companies.
Floki price is trading at $0.0001436, a 1.4% price drop in the last 24 hours. The meme coin has had three major peaks in its lifetime, one in November 2021 and the other two within the March-June period. The price action of Floki formed a potential double top, which may result in a further drop in price to $0.00003500. If the current support holds, Floki may enter into a consolidation zone between $0.00033 and $0.00015.
Being an ERC20 meme coin with a large holder base, Floki may be one of the top Ethereum meme coins to run hard in the case of an ETF approval.
Bottom Line
The potential Ethereum ETF approval anticipation fuels interest in ERC20 meme tokens like Pepe, Floki, and Turbo. These tokens command attention for their ability to potentially return high rewards in a short period of time. As we approach the expected decision day, price volatility in the crypto market may increase.
Frequently Asked Questions (FAQs)
According to speculations, an ETH ETF approval is expected around mid-June.
Some analysts say that Ethereum can pump to 6,600 after ETH ETF approval.
The first Bitcoin ETF was approved on January 10, 2024.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
Ethereum Foundation Launches Pectra Tesnet ‘Mekong’, ETH Price Set For $4000
Ethereum Foundation on Thursday announced launch of its first short-lived Pectra testnet ‘Mekong.’ This testnet includes all the EIPs proposed for the upcoming Pectra upgrade on the Ethereum network. Will this trigger ETH price rally to $4000 as the price jumped 8% in the last 24 hours?
Ethereum Foundation Introduces Mekong Tesnet for Pectra
In an official announcement by Ethereum Foundation on November 7, the first short-lived Mekong testnet was introduced after scoping the Pectra fork and four DevNet events
The foundation said the Mekong testnet consists of all the EIPs proposed for the next major Pectra upgrade. It includes changes such as UX changes via EIP-7702, staking changes via EIP-7251, changes to the deposits and exit mechanisms via EIP-6110 and EIP-7002.
The Mekong testnet is focused on wallet developers to engage with UX changes and for stakers to gain confidence in the upcoming changes. This is a short-lived testnet but the features included will make it into existing public testnets and finally the mainnet.
In addition, Ethereum developer Tim Beiko reveals ethPandaOps has introduced this short-lived Pectra testnet Mekong to introduce major changes in mainnet. Also, this helps the crypto community try out EIP-7702, MaxEB consolidations, and more.
Moreover, Ethereum Foundation developer Parithosh recommended wallet teams to try Mekong testnet at the DevCon Week, which will run the entire week of November 9-17.
If you want something to hack on at DevCon, try out the Mekong testnet!
All the pectra EIPs are live: so you can brainstorm your EIP-7702 wallet user flows, deposit a validator to use MaxEB and exit a staking pool validator with a smart contract! https://t.co/GXEqhjrDjS
— parithosh | 🐼👉👈🐼 (@parithosh_j) November 7, 2024
ETH Price to Hit $4000
Bullish sentiment surrounding Donald Trump’s win and DevCon event has triggered the rally. Moreover, the launch of the Mekong testnet to fuel ETH price further. Notably, analyst Benjamin Cowen predicted Ethereum price rally after a bottom formation confirmation in the ETH/BTC pair above the 50 DMA.
Popular analysts Michael van de Poppe and Ali Martinez said Ethereum is in the early bull run stage. With the Pectra upgrade expected to take place in early 2025, whales are likely to buy the dip. Michael van de Poppe suggested that the markets are rotating and ETH will see a massive pump. Notably, a higher-low formation will bring much-awaited upward momentum.
Also, Ali Martinez added that MVRV Momentum crossing its 180-day has historically signaled a period of outperformance for ETH price. The cross hasn’t happened yet and gives an opportunity to buy the dip for more upside ahead for the $4000 psychological level.
ETH price today jumped 8% to a 3-month high, with the price currently trading at $2,800. The 24-hour low and high are $2,611 and $2,878, respectively. However, the trading volume has decreased by 6% over the last day.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
Why Bitcoin Users Are Moving to Altcoins? As Ethereum Price Jumps 11%
Although the Bitcoin price rally has paused above $75,000 a day after Donald Trump’s victory, altcoins have continued their strong show with the Ethereum price taking the lead with 11% gains all the way to $2,850 levels. Investors have a lot of questions as to does this mark the beginning of the much-awaited altseason moving ahead.
Altcoins Steal the Limelight from Bitcoin?
On the day of Donald Trump’s victory on November 6, the Bitcoin price touched its all-time high levels surging all the way to $75,000. While the bulls try to defend these levels, altcoins seem to grabbing the investors’ focus.
The Ethereum price has managed to pull off 12% gains moving all the way to the $2,850 level and eying further rally to its all-time high levels. This comes despite strong selling pressure from Ethereum whales. Popular crypto analyst IncomeSharks noted that the ETH price has given a crucial breakout from the downward trendline slope, which opens the gates for a 75% rally from here to new all-time highs.
$ETH – Breakout. 75% move from here to an all time high. $3k first. pic.twitter.com/29KJzgk4Ex
— IncomeSharks (@IncomeSharks) November 7, 2024
Furthermore, after hitting the lower lows over the past few months, the ETH/BTC trading pair has notched up a bit. “With ETH/BTC at 0.035 it definitely makes sense to start hedging,” added Cowen. However, he added that for the bottom formation confirmation, the ETH/BTC pair must end above the 50 DMA.
I would watch #ETH / #BTC here.
If it can get above the 50D SMA, the there is a good chance that ETH/BTC has bottomed. pic.twitter.com/dXNYj2sDvY
— Benjamin Cowen (@intocryptoverse) November 7, 2024
Apart from Ethereum price surge, other altcoins like Solana made strong gains on Donald Trump’s victory. The Solana price has surged to $188 once again as talks about the approval of spot Solana ETF in the Trump presidency gain traction. As a result, analysts predict an SOL surge to $300 levels from here.
Will BTC Lose the Grip Over the Market?
Some market analysts state that it is still early to call the altseason and expect Bitcoin dominance to grow even further. Also, this could just be the beginning of the next major Bitcoin bull run.
Veteran trader Peter Brandt shared an optimistic outlook for Bitcoin, suggesting it has entered a “sweet spot” in the current bull market halving cycle. According to Brandt, Bitcoin is on track to peak between $130,000 and $150,000 by August or September of next year, marking a potential new high for the cryptocurrency.
Echoing similar thoughts, crypto analyst Ali Martinez noted that the next BTC top usually happens after 8 to 12 months following a monthly close above the previous all-time highs. Thus, he expects the next BTC top to happen anywhere between July to November 2025.
Historically, #Bitcoin has reached market tops roughly 8 to 12 months after achieving a monthly close above its previous all-time high.
If this pattern continues, the next potential market top for $BTC could occur between July and November 2025. pic.twitter.com/aWBZDBpUea
— Ali (@ali_charts) November 6, 2024
According to blockchain analytics firm CryptoQuant, Bitcoin’s recent all-time high doesn’t signal an overvaluation relative to its cost basis. The firm’s data on the MVRV ratio suggests that BTC remains well below peak levels. Additionally, Bitcoin’s price is close to traders’ average purchase cost, indicating that the market is not currently overheated. These insights point to the potential for continued growth in Bitcoin’s value.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
XRP Price At Risk As Ripple Moves $250M?
The XRP price has come under the spotlight following Ripple’s recent $250 million XRP transfer. This comes amid bullish predictions for the coin, with analysts saying that its price could enjoy a parabolic rally following Donald Trump’s win.
The XRP Price At Risk With Ripple’s $250 Million Transfer
The XRP price is at risk of a decline following Ripple’s transfer of $250 million worth of XRP to an unknown wallet. Onchain data shows that the crypto firm transferred 470 million XRP to this wallet (rP4X2…sKxv3). This unknown wallet has since transferred 100 million XRP to another wallet (rhWt2…E32hk).
The purpose of the $250 million transfer remains unclear. However, it could relate to Ripple’s On-Demand Liquidity (ODL) services or the ongoing SEC appeal case.
This development comes just a day after XRP whales moved $814 million, indicating whale accumulation. While the Ripple transfer is unlikely to impact the XRP price since it will likely be done over the counter (OTC) if it is a potential sale, it could still create a bearish sentiment among XRP investors.
However, crypto analysts are confident that XRP is currently in bullish territory following Donald Trump’s win in the US presidential elections. The coin could surge up to 3,336% as crypto analyst StephIsCrypto predicted a major above $2 following Trump’s victory.
A Price Surge Above $20 By Year-End
In an X post, Crypto analyst Amonyx made a bold prediction, stating that the XRP price will rise above $20 by year-end. In another X post, the analyst suggested that he was confident that this price surge would happen with the US SEC chair Gary Gensler set to be removed following Donald Trump’s victory.
Gensler’s removal is bullish for the XRP price because he has spearheaded the long-running legal battle against Ripple. The legal battle could have negatively impacted XRP all this time, creating doubts in investors’ minds.
However, with Gensler gone and the Ripple SEC lawsuit likely to end, investors could again become bullish on XRP and look to invest more in the crypto. Crypto analyst Ross Vandermeer also predicted that the XRP price could eventually rise to $1,000 thanks to Donald Trump’s US election victory.
Ripple CEO Brad Garlinghouse recently called on the US president-elect to fire Gary Gensler on day 1, just like he promised. Meanwhile, Ripple chief legal officer (CLO) Stuart Alderoty urged Trump to end the regulation-by-enforcement approach to position the US as the crypto capital.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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