Ethereum Meme Coins PEPE, MOG Rocket to Record Highs on ETF Approvals

The approval of Ether ETFs in the US fueled a surge in Ethereum-based meme coins PEPE and MOG, with PEPE reaching record highs and entering the top 20 biggest tokens by market cap. Trading volume for PEPE skyrocketed, along with open interest for both tokens, suggesting new money entering the market. While some traders are betting against further price increases for PEPE, this recent rally highlights the growing trend of meme tokens being used as a way to gain exposure to their underlying ecosystems.