‘PEPE’ing to the moon but for how long?

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By Degen Lipsa

The frog face meme coin PEPE is certainly showing some good moves in the market. It has not only entered the top 100 cryptocurrencies list but also has made it place on OKX and have hit a market capitalization of $540 million. Investors who think the coin has the ability to dominate the crypto market and the meme coin industry are ecstatic about this move.

Meme coins have become a thing these days with the ability to soar high overnight. Not just their catchy logos makes them cool but also the internet and social media communities which made them to the news.

There are meme coins today are more significant than PEPE , which in just over two weeks since its introduction, went from nothing to ranking among the top 100 cryptocurrencies in terms of market worth. Shiba Inu, Dogecoin, AIDOGE being some examples.

PEPE with it’s impressive moves has definitely made the early investors profitable. However, it might be flattening for many holders in the upcoming era. Here’s why-

What rises must inevitably descend. They fall more forcefully the bigger they are. Regardless of the term you use, a PEPE-related lesson is probably on the horizon.

PEPE crash predictions

PEPE has vastly out-performed and it’s success has spawned like Dogecoin and Shiba Inu. But after an especially big rally of well over 400% in the last 48 hours, holders who bought he top could ultimately find out what it means to be a sad frog meme.

PEPE overview
Source- Tradingview

One of the first charts to emerge on TradingView with the huge price data is PEPEUSDC on Uniswap. Investor returns have been 3000% since the chart’s inception. Early adopters turned a cool million dollars from $250.

Considering the possibility of a correction of more than 80%, those who purchased the peak may be at risk of turning a million into much less. The danger comes from the above parabolic curve violently collapsing. An 80% retracement of a parabolic rally is the lowest that is typically anticipated in technical analysis. Holders of cryptocurrencies would be wise to keep in mind that Peter Brandt famously predicted an 80% decline in Bitcoin following the 2017 peak.

BTCUSD plummeted by a stunning 84% from top to bottom once that parabolic rally halted. Over a year before it was even needed, Brandt hit the mark. A correction of almost 80% would be necessary if PEPE currency has reached its peak following a gain of 3,00%.

However, Pepecoin, being so new and popular, should eventually bring substantial returns again, much like Bitcoin did then after the correction. Owners of Pepe, who have a lot more room to fall than the rest of the market, could aggressively experience profit taking as the larger crypto market corrects. As a result, things may soon turn ugly.

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