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Ethereum-based meme coins surge as much as 161% fueled by ETF speculation
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The possibility of an Ethereum ETF spot approval this week has sparked price jumps among Ethereum Virtual Machine-based meme coins, according to data aggregator DefiLlama. HarryPotterObamaSonic10Inu (BITCOIN) and Mog Coin (MOG) jumped 46.8% and 51.7%, respectively.
Wojak and Hemule appreciated even more significantly, rising 66.3% and 89% over the same period. Other Ethereum-based meme coins with double-digit gains are Milady Meme Coin (LADYS), Welsh Corgi Coin (WELSH), and lmeow (LMEOW), with respective growth of 40.8%, 23.5%, and 56.5%.
Pepecoin (PEPE), which is now the third largest meme coin by market cap, has jumped 32% in the last 24 hours.
Notably, meme coins from the Base ecosystem have seen up to triple-digit gains, such as Base Pro Shops (BPS) and its 161% daily jump. United Base Postal (UBPS) is also among the trending Base meme coins, rising 102% over the same period.
Dog Ski Mask (SKI), in addition to its 111% gain, has also surpassed $1.6 million in trading volume since May 20. Normie (NORMIE), one of the “jewels” of the Base, saw even more interest from investors with its trading volume of more than US$9 million, which caused an increase of 73.6%.
Briun Armstrung (BRIUN), which is the misspelled name of Coinbase founder Brian Armstrong, also made significant moves with a 55.2% lead.
The recent price surges witnessed by meme coins have seen the total market capitalization of this crypto sector surpass $62 billion, surpassing crypto categories such as liquid staking tokens, DePIN and decentralized exchange tokens, as well as investment wallets. funds such as DragonFly Capital, Coinbase Ventures and Binance Labs.
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