Ethereum ETF approval excitement boosts meme currencies, PEPE climbs 12%

PEPE rose over 11% on Tuesday on Ethereum ETF excitement.

Bitcoin, Ethereum, and meme currencies have rallied as traders await SEC approval of the Spot Ether ETF this week.
The meme currency is in the top 25 assets with a $5.21 billion market valuation.

PEPE, an Ethereum-based meme currency based on a famous frog meme, rose double-digits on Tuesday. While crypto market players await SEC approval of a Spot Ethereum ETF, meme currencies have begun rebounding from their first-week July dip.

PEPE is up 11% on Tuesday to $0.00001262.

PEPE gains double-digits Tuesday, targets top-20 crypto slot.
PEPE's market cap is 24th among all assets. Pepe's market cap is above $5.21 billion, and Coingecko reveals it has risen fast in the previous two weeks.

PEPE gained almost 37% in the previous week and 11% on Binance. As ETF experts discuss the Spot Ether ETF's SEC clearance, market participants are positive, which helped the meme coin soar.

Investors predict Ethereum-based meme currency PEPE and ecosystem assets to rise in reaction to good news about the biggest altcoin in crypto.

Bitcoin Spot ETF approval boosted Ordinals, BRC-20, and Bitcoin-related assets. If this trend occurs, Ethereum ETF approval might boost staking, restaking, Layer 2 scaling tokens, linked assets, meme currencies based on Ether, and other cryptos.

PEPE may enter Coingecko's top 20 assets as market cap rises. Coingecko data values the 20th asset at $6.21 billion.

PEPE expects roughly 15% surge

PEPE rose on July 14 after almost two months of decline. The asset might rise 14.46% to $0.00001440, the next significant barrier level. This level represents the 78.6% Fibonacci retracement of the rise from the April 13 low of $0.00000393 to the May 27 high of $0.00001725 in the PEPE/USDT daily chart below.

PEPE may find resistance at $0.00001323, the lower Fair Value Gap (FVG) threshold.

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