I've never been a big fan of meme coins since the Covid crash in 2020, and there was/is still many reasons why I don't get in on many or ride the few I got in on for long. One of the most profound reason is " They're unreliable, useless and majority of the time a simple pump and dump".
In the last couple of years, we saw numerous meme coins popping up from nowhere due to the hype on #SHIB and #Dogecoin like #Kishu, #Akita, #Babydoge, #Wifedoge(I think I made crazy money from this one😆- I'd never forget the rush) etc. But almost 98% of them where a complete failure, devastating many people's portfolios and ruining their net worth- Billionaires became millionaires in few months or weeks😢. However, there were some smart people in the market that exploited the rare opportunities at the time and grew their bags tremendously by cashing out immediately their reasonable price targets were reached and never looked back. You must have seen some tweets on Twitter where people talk about their massive gains and posting their Lamborghini 😎😆. One clear fact about meme coins is Just as the risk of losing everything is extremely high, so as the reward of making a fortune of a life time.
On Friday 21st of April 2023, #PEPE took the stage of Crypto Twitter and got the attention of almost everyone on Crypto in just few days with some good candles. I was skeptical about it at first but decided to throw in some few bucks, it happened so fast seeing my few bucks tripled in just 2weeks was ridiculous, #PEPE going above $1billion market cap. I got out my capital and left the rest there. To my surprise, it started dropping few days ago and I had to sell everything.
At the time of writing, #pepe has lost almost 50% of it's market cap
And it's pretty clear it's looking for a goof base to consolidate an accumulation stage for a possible pump( if there's one😆). I've looked at the chart and I think we are at that point
The chart is showing a strong support at the 0.0000013 range which is cool. It only needs to trade sideways for some time, creating a strong base if it really wanna continue its bullishness. If this level is broken( which I'm 68% sure it will) , then it's over for #PEPE.
The chart also says there's a MACD cross happening at the time of writing which is not a good sign😬.
Also, a lot of FUD for #pepe on Crypto Twitter. Is #Pepe really doing what #Shib did? 🤔 I doubt that... Every crypto has a unique pattern they follow. So this might just be another unnecessary FUD.
In conclusion... Always have a trade plan even on meme coins. #pepe is still well on track to make a great move to the up side despite the massive setbacks recently. I wouldn't be surprised if #Pepe becomes the #ShibaInu of this bull market👀. There's been rumors about coinbase listing which have led to the massive FUD across the board. Putting all into consideration, one can speculate that this might end up well for #PEPE in the future if it( the listing) really happen in the end.
Note: This is not a financial advise. Everything i post here are for educational purposes alone. I am not a financial advisor and i don't want to be one. Kindly do your own research before you YOLO your cash. Thank you 🙂
Do share your thoughts and experience if any in the comment section 🙂 and have a wonderful weekend ahead. I'll catch you on the next one💐
GIF courtesy @dalz 🤓