Ethereum Price Surge and MIND of Pepe ICO Draw Investor Interest

Ethereum’s price has risen by 3% to $1,645 amid a trading volume surge, coinciding with a proposal from Vitalik Buterin to replace EVM with RISC-V architecture for improved scalability. Meanwhile, the MIND of Pepe ICO has generated over $8.1 million, featuring autonomous AI capabilities and a promising staking programme.

The Ethereum network has experienced a notable 3% price increase, trading at $1,645 as of 1:17 a.m. EST, bolstered by a significant 71% surge in trading volume to reach $11.9 billion. This uptick correlates with Ethereum co-founder Vitalik Buterin’s recent proposal to replace the current Ethereum Virtual Machine (EVM) contract language with RISC-V instruction set architecture, promoting improved execution speed and efficiency.

In his April 20 proposal, Buterin highlighted major scalability challenges facing Ethereum, including stable data availability sampling and competitive block production. He argues that adopting RISC-V could enhance zero-knowledge (ZK) functionality, thereby increasing Ethereum’s competitiveness, especially against rival blockchain projects like Solana and Sui, which currently offer greater throughput.

The Ethereum trading pair with USDT indicates a structured market with accumulation, breakout, and corrective phases indicating a potential reversal. Currently, ETH shows a modest 3.55% gain after a lengthy bearish trend. Between August and November 2024, ETH consistently traded within a support range of $1,530 to $1,600, capturing significant sell-side liquidity before recently rebounding off this support zone.

Recent analysis suggests Ethereum is breaking from a bearish channel, signifying a potential reversal. The Relative Strength Index (RSI) is gradually increasing from near-oversold territory, currently at 45.14, although it remains below the neutral threshold of 50, hence confirming that bullish momentum is still tentative. A crucial resistance level awaits ETH between $1,750 and $1,800, where a sustained break could lead prices upwards towards $2,000–$2,200.

Simultaneously, the MIND of Pepe project has gained traction, raising over $8.1 million in its presale. This project merges the popular Pepe the Frog meme with an autonomous AI crypto intelligence platform. MIND’s AI adapts and identifies trending cryptocurrencies by monitoring platforms like X and Reddit, providing exclusive insights to token holders in private groups.

MIND’s features include a staking programme promising a 277% annual return, making it appealing for early supporters. A prominent YouTube crypto analyst predicts potential for MIND to increase tenfold after its launch, currently priced at $0.0037265. Interested parties may purchase MIND tokens using options like ETH or USDT via the official MIND of Pepe website or the Best Wallet app.