The recent Bitcoin ETF frenzy has proved once again how quickly the crypto market can turn.
From breaking records of market stability to scoring 30% growth in a day, the crypto domain did a 180° after the recent Bitcoin ETF frenzy. As soon as news surrounding Bitcoin ETF approval surfaced, the crypto market finally showed some life after 2021.
Now, the internet is being flooded by crypto memes, rallying the momentum caused by BTC ETF rumors. These whispers seem to be gaining more prevalence as experts expect the SEC to authorize a BTC ETF shortly.
The rumors alone helped BTC earn 25%+ growth, pushing it to 35,000 dollars after 18 months. As anticipated, the breakout gave bulls some optimism, and XRP’s victory in the case against the SEC only strengthened that optimism.
Now, meme coins like PEPE have started their bullish rally as well. Based on the green anthropomorphic frog, PEPE witnessed a 77% uptick last weekend. The coin accumulated a market value of over 1 billion dollars in May 2023. However, the meme coin dropped 60% in value shortly after.
The increased meme activity in the crypto market has reignited traders’ love for PEPE as well. From Bob Ross to Baby Yoda, vintage meme materials are being used to rally the crypto space.
That is why traders also go through every Pepe price prediction to assess how the meme coin will perform. Popular names like Shiba Inu and Dogecoin have also gained significant value in the past week.
The crypto market has previously witnessed meme coins being in lockstep with market sentiment. It is easy for traders to push these tokens aside for their lack of basic value. However, the fact remains that these coins can turn around at the drop of a hat, generating quick bucks for traders.