From $27 to $4M: Pepe Wallet Unable To Sell Unstoppable Rally

Pepe is the hot new meme coin that everyone can’t stop talking about. The enormous climb in value in a short time is responsible for all the chatter. One particular whale turned $27 into more than $4M. Yet, according to the cryptocurrency community, the owner do the related wallet might never be able to cash [...]

The post From $27 to $4M: Pepe Wallet Unable To Sell Unstoppable Rally appeared first on Crypto Breaking News.

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Check Out This Shocking Pepe Coin Versus Bitcoin Comparison

Pepe coin is the most talked about asset in the crypto market right now. The less than one-month-old meme token has nothing at all to do with Bitcoin, yet shockingly is displaying nearly exact price patterns.  Don’t miss this incredible and unusual chart comparison between BTCUSD and PEPEUSDC.  A Quick Recap Of Pepe Coin And Its Runaway Crypto Success Pepe coin is one of the biggest new meme coins, prompting a massive wave of more meme tokens of all kinds. If you couldn’t tell by the name, much like Dogecoin is associated with the Doge meme, this one features the Matt Furie-created Pepe the Frog. Related Reading: Can Meme Coin PEPE Get Into The Top 100? Read This Before Buying Anyone who invested in Pepe coin over the last couple of weeks “feels good, man.” That is because it has risen in value by over 2,500% in 14 days — numbers that are high even by crypto standards. Most of the supply of holders at this point is in substantial profit. But if the Bitcoin chart is any indication of what’s to come, some serious profit taking could be ahead.  In the comparison below, we have put the 4-hour PEPEUSDC chart up against the weekly BTCUSD chart. The left chart features two weeks of price action, while the chart on the right shows four full years. Yet they are extremely similar.  Bitcoin versus the frog king of the memes | PEPEUSDC on TradingView.com The Unusual Bitcoin Comparison Explained According to study of Elliott Wave Principle, markets are fractal and form self-similar, repeating patterns across various degrees of timeframes. Simply put, the same price action and behavior can appear on an hourly or 4H chart as it does on a much higher timeframe. Related Reading: Sad Frogs: Why The Parabolic Pepe Coin Could Flatten By 80% The study focuses on mass crowd behavior and human psychology, particularly how it can create clearly definable turning points in financial markets.  The two charts looking and behaving so similarly could be due to the same type of speculative behavior.  Importantly, if the comparison is accurate for the reasons discussed, it could indicate that Pepe coin is due for some profit-taking and a correction soon enough. Of course, the meme coin could be nowhere near done and anyone who sells now could be a very, very sad frog.  Did you buy Pepe? Tell us on Twitter. Did you buy #PEPE? Comment = No ??Retweet = Yes ??Like = Soon ?? — NewsBTC (@newsbtc) May 2, 2023 Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

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Sad Frogs: Why The Parabolic Pepe Coin Could Flatten By 80%

Pepe coin, the meme cryptocurrency based on the popular internet meme, has become the newest sensation across crypto. Although it has made early buyers extremely happy – and extremely wealthy – it could soon leave many holders feeling flattened due to a possible 80% correction. Let’s take a closer look. Feels Good, Man… For Now What goes up, must come down. The bigger they are, the harder they fall. Regardless of the phrase you choose, there is a lesson related to Pepe possibly on the way. Related Reading: Can Meme Coin PEPE Get Into The Top 100? Read This Before Buying Few meme coins these days are a bigger deal than Pepe, rising from nothing to into the top 100 cryptocurrencies by market cap in a little over two weeks since its launch. It’s vastly out-performed meme coin brethren Dogecoin and Shiba Inu, and the dozens of new coins that Pepe’s runaway success has spawned. 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. The parabolic Pepe coin curve | PEPEUSDC on TradingView.com Predicting A Massive Pepe Coin Crash PEPEUSDC on Uniswap is one of the first charts to launch on TradingView with the largest amount of price data. Since the chart’s inception, it has brought investors 3,000% ROI. Earlier adopters turned $250 into a cool mil. Those who bought the top might be at risk of turning a million into lot less, considering the risk of a more than 80% correction. The risk is due to the parabolic curve pictured above breaking down violently. Related Reading: PEPE Goes To The Moon: Meme Coin Listed On OKX, Binance Listing In the Works? A rule of thumb in technical analysis is to expect at minimum an 80% retracement of a parabolic rally. Crypto holders would do well to remember that Peter Brandt famously called for an 80% collapse in Bitcoin after the 2017 peak. After that parabolic rally ended, BTCUSD dropped at full 84% from top to bottom before it was over. Brandt nailed the target over a year in advance. If Pepe coin has topped out after a 3,000% gain, a roughly 80% correction might be due. But much like Bitcoin then, after the correction, Pepe coin being such a new and hot coin should eventually bring substantial returns again. However, while the greater crypto market corrects, profit taking could aggressively spill into Pepe holders, who have a lot more room to fall compared to the rest of the market. As a result, things could get ugly quickly. Today, we are talking about the MEASURE RULE, and how to use it in technical analysis to find profit targets and determine risk:reward in crypto trading using #PEPE as an example Here’s how not to be a sad frog ?? $PEPE pic.twitter.com/JqqDhvnJez — CoinChartist (@coinchartist_io) April 30, 2023 Follow @TonyTheBullBTC & @coinchartist_io on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

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