The impact of Ethereum ETF on altcoins like PEPE, BONK, and others can be seen in the following ways:
- *Bullish Trend*: The approval of Ethereum ETF has sparked a bullish trend in altcoins, setting the stage for a potential rally among meme coins.
- *Increased Trading Volume*: The trading volume for PEPE spiked to $2.24 billion, marking an impressive 182% rise within a 24-hour period, indicating increased buying activity.
- *Price Surge*: PEPE has experienced a significant surge of 24.63%, forming a bullish engulfing candle. BONK price is trading at $0.000031, marking a 21.95% increase.
- *Community Sentiment*: The crypto community is showing increased interest and optimism towards meme coins like PEPE and BONK, with many analysts predicting further price increases.
- *Market Dynamics*: The Ethereum ETF has created a favorable market environment for altcoins, with many investors seeking to diversify their portfolios by investing in meme coins.
- *Technical Indicators*: Technical indicators such as the Relative Strength Index (RSI) and the Directional Movement Index (DMI) support the positive trend, reflecting increased demand for the meme coins.