- As the deadline for Ethereum ETFs in the United States, set for July 23, draws near, experts predict a significant influx of capital into Ethereum, potentially driving its price to new highs.
- Analyst Mustafa Mulla forecasts that this launch will also impact several meme coin projects linked to Ethereum, likely pushing their prices upwards.
- Mulla identifies five tokens that investors should watch for substantial gains, emphasizing the potential of these meme coins.
Discover the potential impact of the upcoming Ethereum ETFs on various meme coins and their projected price surges.
The Rise of Shiba Inu Coin (SHIB)
Shiba Inu (SHIB), a well-known meme coin built on the Ethereum network, has demonstrated considerable growth in the decentralized finance sector. Over the past year, SHIB’s value has surged by 122%, positioning it as the 13th largest cryptocurrency by market capitalization, which currently stands at $10.13 billion. Currently trading at $0.00001715, SHIB experienced a 1.91% decline in the last 24 hours. Despite this, SHIB remains a strong investment opportunity due to increasing trading activity, strategic token burns, and the anticipated launch of Shibarium, presenting an enticing prospect for investors to accumulate more SHIB at a discounted price.
Potential Surge of Pepe Coin (PEPE)
Pepe Coin (PEPE), another meme coin built on Ethereum, aims to rival the popularity of Shiba Inu and Dogecoin. With the impending Ethereum ETF launch, investors expect assets related to the Ethereum ecosystem to rise. Pepe currently ranks third among meme coins with a market capitalization of $4.9 billion. Currently priced at $0.00001162, it has seen a 1.3% decrease over the past 24 hours. However, the introduction of the Ethereum ETF maintains its high growth potential.
Floki (FLOKI): From Meme to Brand
Floki (FLOKI), originally a meme coin inspired by Elon Musk, has evolved into a globally recognized brand. As an ERC20 token with a broad ownership base, Floki is well-positioned to benefit from the approval of the Ethereum ETF. Trading at $0.000177, Floki experienced a 1.14% decrease in the last 24 hours, but it remains a formidable competitor in the meme coin market due to its established presence and community support.
Grok (GROK): The AI-Inspired Meme Coin
Grok (GROK), a meme coin associated with artificial intelligence, has gained traction in the crypto space. Grok is expected to have a stronger connection with Elon Musk than any other meme coin. Currently trading at $0.0080 with a market cap of $51 million, Grok recorded a slight increase of 2.12% in the last 24 hours. This unique connection and recent price movement position Grok as an intriguing coin to monitor.
Popcat (POPCAT): The Feline Meme Coin
Popcat (POPCAT) has performed exceptionally well in recent weeks, showing a 70.4% increase on weekly charts and nearly 200% over the past month. Although it temporarily entered the top 100 projects by market cap, it currently stands at 105th with a market capitalization of $747 million, trading at $0.76. Despite a 5.77% drop in the last 24 hours, Popcat has the potential to climb back into the top 100, making it a noteworthy meme coin to watch.
Conclusion
The upcoming Ethereum ETF launch is anticipated to significantly influence the prices of various Ethereum-linked meme coins. Shiba Inu, Pepe, Floki, Grok, and Popcat are positioned as strong contenders for substantial growth. Investors should closely monitor these coins for potential investment opportunities. As always, it is crucial to conduct personal research before making any investment decisions.
