The Ethereum price has surged by 6.9% in the last 24 hours to trade at $2,236 as of 2:30 a.m. EST.

BitMEX founder Arthur Hayes sees a strong future for ETH, predicting it will hit a new all-time high of $5,000 and says he is swapping Solana for Ethereum

Fam … I have a confession to make.

I received a msg from the Lord while meditating. He said dump that Sam coin POS, and profess your love for Archangel Vitalik.

So I dumped $SOL, and bot more $ETH.$ETH = $5,000

— Arthur Hayes (@CryptoHayes) December 22, 2023

Analyst Pentoshi on X also anticipates an Ethereum rally following the possible approval of Ethereum ETFs (exchange-traded funds) next year.

We’ve been bull tweeting the $BTC etf since 25-28k

Soon, we get to do this all again with the $ETH ETF in 2024

No matter what you believe, it’s all game theory. as the date approaches people will be less willing to sell, and others will feel the need to buy

$2,7xx and 3.4k… https://t.co/a1yufMX6l7 pic.twitter.com/bbO3EQIkNx

— Pentoshi 🐧 euroPeng 🇪🇺 (@Pentosh1) December 23, 2023

Ethereum Price Prediction

Looking at 2-hour ETH/USD charts, the Ethereum price could be headed to a bullish short term as the Relative Strength Index indicator now moves north, having held above the oversold region. This shows fading selling pressure on Ethereum.

The MACD is, however, moving in the red zone, suggesting a likely bearish short-term. This comes as the Ethereum price moves at range, suggesting a break out on either side.

Looking at trading activities, ETH’s trading volume has jumped by 14% in the last 24 hours, causing high volatility, as shown by the Bollinger Bands, which is currently diverging.

ETH/USD 2-hour charts | Source: TradingView

Meanwhile, meme coins have taken center stage with new arrivals Meme Kombat, Sponge V2, and Wall Street Memes all among those making waves. Analysts say they have massive potential, as demonstrated by the investor confidence in their projects.

Ethereum Price Prediction: Should You Turn To These Meme Coins Instead?

Meme Kombat (MK) has soared past the $4.5 million mark. Each MK token is priced at $0.257, but that will increase in a little more than two days. 

We have passed the $4.5 million mark in the $MK presale!

Well done memers! pic.twitter.com/5qPR1eax55

— Meme Kombat (@Meme_Kombat) December 25, 2023

To join the MK presale frenzy, head to the Meme Kombat website, connect your Web 3 wallet and trade your ETH, USDT, or BNB for MK tokens.

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Sponge V2: Will This Meme Coin Pump 100X Again?

Sponge V2 is also emerging as another top player in the meme coin arena. The evolution of the original Sponge token is propelled forward with the introduction of SPONGEV2.

This enhanced version aims to build upon the successes of the initial Sponge token. Sponge V2 is poised to deliver even more impressive 100X increases following the noteworthy ascent of V1. With the Ethereum price future trajectory remaining uncertain, Sponge V2 could be your ultimate investment. 

📣 We’re excited to announce that #Sponge is bridging from V1 to V2!

Stake your $SPONGE to earn #SpongeV2 tokens. 🧽💦

Buy and stake now for a special V2 token bonus! Don’t miss out 🔥#MemeCoin #Web3 #BullMarket pic.twitter.com/bYmkg1TNrU

— $SPONGE (@spongeoneth) December 18, 2023

SPONGEV2 introduces the revolutionary “Stake-to-Bridge” technology, forging an unprecedented connection with the V1 ecosystem. This unique feature enhances the utility of the token significantly.

By staking more SPONGE tokens, investors can boost the returns of SPONGEV2 tokens, enhancing their chances of lucrative rewards.

The official SPONGEV2 website simplifies the process of acquiring SPONGEV2 coins once the staking period concludes. Exchange your Ethereum or USDT for V2 tokens by connecting your Web3 wallet or using your bank card for a hassle-free transaction.

Wall Street Memes

Demonstrating the expansive potential of crypto gaming, Wall Street Meme (WSM) recently introduce the Wall Street Memes casino. 

New players are capitalizing on a substantial 200% sign-up bonus, extending up to $25,000. 

INTRODUCING THE WALL ST MEMES CASINO! 🚨

Enjoy Wall St Memes custom games, sports betting, a live casino and $WSM token integration 🔥

200% deposit bonus – Sign up now! ⬇️https://t.co/RvwON1Sfp2 pic.twitter.com/6snnG16A6v

— Wall Street Memes Casino (@wsmcasino) October 18, 2023

First-time depositors of WSM may enjoy 200 free spins on the most popular slot game. Owning WSM grants access to exclusive token-holder communities, bonuses within the WSM Casino, and the ability to stake tokens for proportional prizes. The more you bet, the more you can earn.

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Get Your Meme Coin of Choice here: 

Meme Kombat

Sponge V2

Wall Street Memes

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• Source: https://insidebitcoins.com/news/ethereum-price-prediction-arthur-hayes-sees-eth-at-5k-and-dumps-sol-but-these-presales-might-be-the-best-cryptocurrency-to-invest-in-2024-for-parabolic-growth