Ethereum-based memecoin Pepe surged 27% to a new all-time high over the past 24 hours, fueled by speculation surrounding the potential approval of spot Ether exchange-traded funds (ETFs) in the United States. “PEPE is probably the best memecoin play for the ETH ETF,” crypto trader Matthew Hyland claimed in a May 21 X post. Pseudonymous crypto trader “Kaleo” noted the irony in how ETH is moving, and PEPE has become one of the most obvious hindsight trades out there. Ether has risen 23.28% over the past two days, reaching $3,785, amid renewed hope that the U.S. Securities and Exchange Commission
