Ethereum Expectations Triggered Up to 50 Percent Rise in These Meme Coins!

The US Securities and Exchange Commission's (SEC) spot Ethereum ETF move also benefited meme coins.

On May 20, the SEC requested “expedited filing updates” from spot Ethereum ETF issuers. Bloomberg's senior ETF analysts increased their odds of spot Ethereum ETF approval to 75%. While it is thought that the SEC may give approval in the next day or two, Ethereum-based meme coins also rapidly gained premium.

Pepe (PEPE), one of the most popular Ethereum-based meme coins, has increased by around 20% in the last 24 hours. Mog Coin (MOG), which is in the same category, attracted attention by gaining 45% in value.

Making a statement on the subject on Telegram, MOG core developer stated that MOG could be the next PEPE:

Native meme coins are generally high beta for the native token of the chain they are on, and Mog is on its way to becoming the next Pepe. He quickly established himself as a winner on Ethereum.