Pepe Coin Jumps, Hits New Highs (But Faces Profit-Taking)

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Pepe Coin Jumps, Hits New Highs (But Faces Profit-Taking)

The meme coin world is abuzz with the continued rise of Pepe (PEPE)! The popular frog-themed token has been on a tear, surging over 10% in the past 24 hours and reaching new all-time highs (ATHs) multiple times in recent days.

Pepe's price peaked at $0.00001577, marking a significant milestone for the coin. However, some sellers took this opportunity to cash in on the gains, pushing the price back down to $0.00001501. Despite this pullback, Pepe remains a strong performer, still sitting 6.64% higher compared to yesterday.

Will Pepe continue its upward climb, or will profit-taking lead to a more sustained correction? Only time will tell, but one thing's for sure: Pepe is keeping the meme coin market lively.

Surprise App Surpasses Facebook in Play Store Downloads

Move over Facebook, there's a new player in town! Phantom Wallet, a cryptocurrency wallet for accessing the Solana (SOL) blockchain, has surged in popularity, surpassing Facebook in the Google Play Store's U.S. free downloads ranking.

Currently sitting at #11, Phantom Wallet edges out Facebook and even OpenAI's ChatGPT, placing it behind social media giants like Snapchat and financial apps like Cash App.

This meteoric rise comes on the heels of a successful April, with an estimated 770,000 downloads according to appfigures. Originally designed for SOL tokens, Phantom Wallet has expanded its reach to support major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Polygon (MATIC).

This surge highlights the growing interest in decentralized finance (DeFi) and user-friendly interfaces for interacting with cryptocurrencies. Whether Phantom Wallet maintains its momentum remains to be seen, but it certainly signals a growing trend in the crypto space.

Ether ETF Approved, But Who's Next in Line?

The race for a spot ether (ETH) exchange-traded fund (ETF) just crossed a major hurdle, but crypto enthusiasts are already looking ahead. With the SEC's approval of a key filing, industry experts are speculating on which cryptocurrency might be next in line for an ETF – but don't expect it in 2024.

Standard Chartered analysts believe Solana (SOL) or Ripple's XRP could be potential contenders, though not until 2025. Analyst Geoffrey Kendric highlights that investors will likely be looking for the "next in line" for ETF approval, but emphasizes that Bitcoin and Ether will likely continue to dominate the market in the meantime.

While the recent approval is a significant step, it's only half the battle. The SEC still needs to approve the S-1 form, which could take weeks, months, or even indefinitely. So far, only a handful of potential issuers have filed this crucial document.

Interestingly, several experts suggest Solana (SOL) could be a logical choice for a third ETF due to its similarities to Ethereum. This speculation adds fuel to the fire of anticipation for future cryptocurrency ETFs.

The wait for a wider selection of crypto ETFs continues, but the recent approval marks a positive step forward for the industry. Investors will likely be keeping a close eye on potential contenders like SOL and XRP as 2025 approaches.

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