The much-anticipated launch date of the Spot Ethereum ETF in the US is set for July 23. Experts predict substantial capital inflow to Ethereum, potentially pushing its price to unprecedented levels. This event is also likely to affect various memecoins built on Ethereum’s Blockchain, elevating their market performance. Among these, some memecoins are highlighted for their high earning potential.
Shiba Inu: What’s in Store?
Shiba Inu (SHIB), a popular memecoin, has marked notable progress in the decentralized finance sector. Built on the Ethereum network, SHIB saw a 122% value increase over the past year. Despite a recent 1.91% price drop, the coin maintains a strong investment appeal due to increasing trading volumes, systematic burns, and the launch of its Layer-2 solution, Shibarium, offering investors a chance to buy more SHIB at lower prices.
Can Pepe Compete with Shiba Inu?
Pepe (PEPE), another memecoin on the Ethereum platform, is aiming to match the popularity of Shiba Inu and Dogecoin. With the upcoming Ethereum ETF, investors expect Ethereum-based assets like PEPE to gain traction. Despite a 1.3% price drop in the last 24 hours, PEPE remains promising, backed by its $4.9 billion market value.
High Potential Memecoins
– **Floki (FLOKI)**: Inspired by Elon Musk, Floki has transformed into a renowned brand. Although its price has dipped slightly, it is well-positioned to benefit from the ETF launch.
– **Grok (GROK)**: An AI-related memecoin with strong ties to Elon Musk, Grok’s recent price movements and market value make it an interesting prospect.
– **Popcat (POPCAT)**: With a remarkable 70.4% weekly surge, Popcat has shown significant growth, briefly entering the top 100 projects by market cap.
Conclusion
The upcoming launch of the Spot Ethereum ETF is set to bring substantial capital into Ethereum, potentially elevating its price and benefiting several memecoins. Investors are closely watching assets like Shiba Inu, Pepe, Floki, Grok, and Popcat for their high growth potential.