Meme Coin Prices Rise: PEPE ETF Application and Maxi Doge Spark Cryptocurrency Market Activity

Canary Capital has filed a spot PEPE ETF S-1 application with the U.S. Securities and Exchange Commission ((SEC)).

The development marks the first serious regulatory step toward bringing a major meme coin into traditional investment accounts.

The application includes a fund structure that directly holds PEPE tokens, along with a small Ethereum share to cover transaction fees. This comes at a time when the meme coin sector is showing signs of recovery.

While PEPE produces technically positive signals, whales accumulated 1.23 trillion tokens on April 5.

On the Shiba Inu side, since the beginning of the month, an additional 2.02 trillion SHIB has been added, totaling approximately $12.16 million in growth.

At the same time, Maxi Doge's presale rapidly grew to nearly $6 million, indicating investors are turning toward new high-potential meme coin opportunities.

PEPE ETF Application and Whale Movements Send Strong Signals in the Sector
The PEPE ETF application represents a significant shift for the meme coin segment, which was previously seen as entirely retail investor-focused.

A regulated asset manager aims to offer direct investment opportunities in meme coins for the first time.

On-chain data also supports this picture. Whales continue to accumulate PEPE even if the price drops in the short term.

During the same period, a technically positive RSI divergence occurred, resulting in an 11% increase in recent days. However, PEPE is still trading below its peak levels.

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