Reported 5 months ago
PEPE and MOG, Ethereum meme coins, reached all-time highs following the approval of U.S. ether ETF filings, with traders viewing them as beta bets. The surge in open interest in futures for these tokens suggests new funds entering the market, but the long-to-short ratio for PEPE indicates traders are betting against further price increases. These gains were driven by the approval of key ether ETF filings in the U.S., leading some traders to consider meme tokens as beta bets to gain exposure to the main asset.
Source: YAHOO