After ETH's ATH nearly hit $5,000 in 2021, ETH sparked a wave of market excitement that saw the network’s transaction fees go up significantly. Recent SEC approval of Spot ETH ETFs has seen Ether gain new momentum with a registered 26% increase.

Leading Ethereum (ETH)-based meme coin, Shiba Inu (SHIB), has been preparing for the second leg of the macro bullish breakout towards retesting its all-time high (ATH).

A quiet macro day in the US, a mixed bag of regional Fed survey data, followed a hotter-than-expected inflation print in Germany, which sparked a further hawkish shift lower in rate-cut expectations.

The rally in Ethereum, amidst optimism around expected SEC approval for ETH ETFs, has stalled for now with the market stagnating into a test of the 4003 level.

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