Miles Deutshcer – ETH ETF Approval Is About To Send THESE Altcoins PARABOLIC! (21.05.2024 Summary)

Miles Deutshcer – ETH ETF Approval Is About To Send THESE Altcoins PARABOLIC! (21.05.2024 Summary)

With the potential approval of a spot ETH ETF just days away, the crypto world is buzzing with excitement and speculation. In this highly anticipated event, Miles has identified several altcoins that he believes could outperform, presenting lucrative trading opportunities.

🐸 Pepe (PEPE). Pepe stands out as one of Mile’s top picks, having already pumped an impressive 20% on the ETH ETF news. As a strong Ethereum beta play, Pepe’s performance is closely tied to Ethereum’s success. Mile’s remains confident in Pepe’s potential, considering it one of the best risk-reward holds for this cycle.

🐶 Dogecoin (DOGE).Mile’s is particularly interested in Dogecoin as a potential candidate for the next ETF approval after Ethereum. With the CFTC approving Dogecoin futures on Coinbase, alongside Bitcoin Cash and Litecoin, Dogecoin has a strong case as the leading “ETH meme” coin. The current uptrend and potential for a breakout above the 16-cent resistance level make Dogecoin an exciting prospect.

🗿 Ethena (ENA).Ethena, a highly reflexive altcoin that benefits from positive funding rates, is another Ethereum beta play on Mile’s radar. As a bull run environment, triggered by an ETH ETF approval, could boost Ethena’s performance, Mile’s is keeping a close eye on a potential breakout above the 86-cent resistance level.

⌛️ Pendle (PENDLE).Pendle, a decentralized finance (DeFi) play, has already proven its resilience by rebounding strongly after facing significant FUD. Mile’s has been accumulating Pendle since April and sees it as a strong risk-weighted asset (RWA) performer in his portfolio, thanks to its Ethereum beta exposure.

Mile’s approach is to focus on these Ethereum beta plays in the short term, aiming to capture potential gains from an ETH ETF approval. However, he also plans to rotate some of those profits into longer-term holdings, such as leading meme coins like Wif and other promising altcoin narratives like AI and gaming coins.