Three Ethereum alternative cryptocurrencies — Floki Inu (FLOKI), Pepe (PEPE), and Shiba Inu (SHIB) — are poised for significant gains following the approval of the Ethereum ETF.
As per recent data, Floki Inu is projected to soar by 222%, Shiba Inu by 65%, and Pepe by 200% by July 28th.
On May 23rd, the US Securities and Exchange Commission (SEC) initiated the approval process for spot Ethereum (ETH) Exchange-Traded Funds (ETFs), pending the subsequent clearance of amended S-1 documents for trading commencement.
Nate Geraci, president of THE ETF Store, anticipates a decision by mid-July, with the final S-1 submission slated for July 12th. With ETF approval on the horizon, analysts have identified three Ethereum altcoins poised for substantial growth.
**Floki Inu**
According to CoinCodex, Floki Inu (FLOKI) could experience a significant surge of approximately 222% by July 28th, reaching $0.00055.
Current technical indicators suggest a bearish sentiment, with a Fear & Greed Index of 47 (Neutral). Floki Inu has witnessed volatility, showing 13 out of 30 days (43%) in green, with a 22.09% price fluctuation over the last month.
At the time of reporting, FLOKI was trading at $0.000142, marking a bullish reversal with a 9.7% increase in the past 24 hours. However, it has recorded a negative return of 16% over the past seven days and a substantial decline of 54% over the last 30 days.
Beyond its price potential, Floki Inu benefits from an active community ecosystem and innovative marketing strategies.
**Shiba Inu**
Shiba Inu (SHIB) is another Ethereum-based cryptocurrency expected to see significant gains post-ETF approval. According to CoinCodex, SHIB could surge by 65% to trade at $0.00002884.
As of the latest update, Shiba Inu was trading at $0.00001536, having surged by 15% in the past 24 hours. Despite this recent uptick, its seven-day return remains negative with a decline of 9.9%, and a 30-day decline of 38%.
**Pepe**
PEPE has recently surged by 3000% following the rise in GameStop (GME) stock price. CoinCodex forecasts a further 200% increase by July 28th, potentially reaching an all-time high of $0.00003972 after the approval of the Ethereum ETF.
Technical indicators currently show a bullish sentiment, with a Fear & Greed Index at 47 (Neutral). PEPE has experienced volatility, with 11 out of 30 days (37%) in green, and a price fluctuation of 11.17% over the past month.
At present, PEPE is trading at $0.00000912, marking a 13% increase in the last 24 hours. However, it has seen declines of 21% and 37% over the last seven and 30 days, respectively.
In conclusion, the imminent approval of the Ethereum ETF could potentially catalyze significant price movements for these Ethereum altcoins, presenting opportunities for substantial returns for investors.