#đ§ Ethereum Meme Coins PEPE, MOG Hit All-Time Highs on Ether ETF Filing Approvals
đŒ Ethereum meme tokens PEPE and MOG hit record highs on Monday, fueled by the recent U.S. approval of Ether ETF filings.
đŻ The frog-themed PEPE jumped 11%, while cat-themed MOG soared 45% as traders treated them as leveraged âbeta betsâ on Etherâs price. Trading volumes for PEPE topped $1.8 billion. Futures data showed rising open interest, suggesting new money entering the market.
đ However, PEPEâs long-to-short ratio favored shorts at 54%, indicating traders betting against further price rises. Meme tokens with no inherent value have gained prominence lately as speculative plays on the growth of blockchain ecosystems like Ethereum.
