Pepe Price Continues to Rise
Pepe has continued pushing ahead despite a broader market slowdown, currently up 11% in the last day. Meanwhile, the newly launched Sealana presale is advancing towards $3 million. Will this be the next meme coin to explode?
ETH ETF Approvals Ignite a Pepe Price Frenzy
Pepe has emerged as a leading Ethereum beta play, decisively outperforming the L1 coin this week. This follows the United States Securities and Exchange Commission‘s (SEC) approval of Ethereum spot ETFs on 23 May.
While the majority of large-cap cryptos are down today, ETH has pushed ahead thanks to the SEC’s green light. It is currently priced at $3.9K and up 4.5% today.
However, Pepe, one of Ethereum’s most popular meme coins, has jumped 12% today and recently created a new all-time high (ATH).
It is trading at $0.0000166, holding a $6.9 billion market cap and a $2.5 billion 24-hour trading volume, up 18% today.
Pepe is up 75% this week, making it the second-best performing top 100 cryptocurrency by market cap. This is only second to Ethereum Name Service, up 79%.
Given its clear-cut relative strength, it is no surprise that Pepe has demanded centre stage on social media this week.
Jameson noted that Pepe is outperforming other leading cryptocurrencies, including Dogecoin, Ondo, Floki, Render, and Bitcoin.
Moving to what this could mean looking ahead, Crypto Knight anticipates continued bullish momentum for the frog-themed meme coin.
According to the analyst’s prediction, Pepe could advance toward $0.00003958 in the coming weeks. This represents a 137% gain from its current price.
Meanwhile, Zer0 suggests Pepe’s rally remains in its infancy, comparing its price action to Dogecoin’s in the last market cycle. Indeed, this presents a considerably favourable outlook for Pepe.
The analyst also notes that Pepe “will pave the way for other memes to follow.”
But as Pepe paves the way, many lower market cap meme coins could see outsized growth.
Countless low-cap projects are emerging, but one of the most promising is the newly launched Sealana. Leading traders are rallying behind it as its presale total raise nears $3 million.
Next Meme Coin to Explode: Analysts Back Sealana For 100X Gains After Its IEO
While Ethereum’s ETF narrative has bolstered the price of Pepe and other Ethereum ecosystem tokens, the forward-looking market anticipates that a Solana ETF could be next, and that’s great for its ecosystem meme coins like Sealana.
However, that is not the only factor stirring up excitement for Sealana. The project follows Book of Meme’s presale blueprint, which enabled a parabolic $1 billion rally within two days of its IEO.
But Sealana differentiates itself with a hilarious backstory and unapologetic social media antics.
As per its website, Sealana is a seal who trades meme coins from his mom’s basement, living off canned tuna and chips with hopes of making life-changing gains and buying a new Lambo.
Meanwhile, Sealana’s X account does not shy away from controversy and is littered with witty references to ex-U.S. President Donald Trump.
It also has a South Park-esque feel, helping cultivate a loyal community of Solana degens.
Indeed, these factors align perfectly with the Wild West of Solana Crypto Twitter, so it is no wonder that investors are flooding in.
Market commentators are also bullish, with Crypto Boy speculating that the project “could give you 100x profit.”
However, the Sealana presale has no predetermined hard cap, so potential investors should act fast to avoid missing out.
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