PEPE Prepares For A Breakout That Could Determine Future Price

After a significant rally, PEPE, the newly launched meme coin made an extensive retracement. PEPE is trending sideways in a triangle that Crypto Tony, a Crypto Twitter analyst, believes would determine PEPE’s next direction.

In a tweet, Tony told his followers he was waiting for a break from a triangle before re-entering the trade.

PEPE launched in the middle of April 2023 and generated significant interest one week afterward. With massive awareness and listing on top exchanges, PEPE attracted an influx of capital that caused its price to rally.

PEPE gained over 2,000% of its original value within two weeks to become one of the most profitable crypto assets for 2023. The rise also introduced PEPE into the class of top meme coins in the crypto industry, like SHIB and DOGE.

A swift retracement saw PEPE dropping by a significant margin. The price fell from $0.0000044867 to a local low of $0.0000010000, reflecting a loss of over 77%. Although PEPE attempted a rebound, the price has trended sideways, with users awaiting the next season of volatility.

As of the time of writing, only a few of Tony’s followers indicated an interest in PEPE’s price development. One follower believes the meme coin has run its course, and the community’s attention has shifted to another project, BOB. The user claimed he had moved his PEPE money to BOB.

Another of Tony’s respondents believes Bitcoin’s price movement determines what happens to PEPE. According to him, the same applies to several other cryptos. He believes users can gauge the next move for most crypto tokens by monitoring Bitcoin. PEPE traded at $0.0000015065 as of the time of writing after gaining 3.54% for the day.

Disclaimer: The views and opinions, as well as all the information shared in this price Analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss

Comments

Post a Comment

Popular posts from this blog

Investor Says BTC And cryptos Are Primed For A Big Turnaround

Image
A trader who is known for correctly calling the bottom of the crypto market in 2022 says that now “seems like a great time” for the market to turn around. Chris Burniske, a venture capitalist, tells his 260,100 Twitter fans that there are a lot of things going for Bitcoin (BTC) and other crypto currencies. “BTC at [200-week simple moving average], worst of Fed action is behind us, credit crunch is there but not a crisis, US gov unlikely to default, equities rallying while crypto lags — seems like a prime time for us to reverse — what am I missing?” Burniske also says that it looks like “a new product cycle” is about to start in the crypto world. “The availability of mature infrastructure for products to use is leaps and bounds beyond the last time this happened w/ DeFi (decentralized finance) Summer in 2020. If you’re not getting excited, you’re not paying close enough attention.” The venture investor is especially excited ...
Read more

Taurus and Teylor collaborate to tokenize German SME loans on TDX Marketplace

Taurus and Teylor Partnership. Teylor’s credit portfolio tokens, overseen by Allen and Overy, become tradeable on Taurus’ TDX marketplace. Taurus’ TDX marketplace, with $1 billion+ in transactions, solidifies Switzerland’s role in institutional-grade blockchain treatment for diverse asset classes. In a groundbreaking move, Swiss crypto custody firm Taurus, backed by Deutsche Bank, has joined forces with Zurich-based fintech lending platform Teylor. The collaboration aims to tokenize Teylor’s credit portfolio tokens, allowing them to be traded on Taurus’ TDX marketplace, signalling a significant step in the tokenization of traditional finance. Tokenizing German SME loans on TDX Marketplace Taurus and Teylor collaboration centers on tokenizing Teylor’s credit portfolio tokens, a move that aligns with the global trend of digitizing traditional financial assets. Overseen by law firm Allen and Overy, Teylor’s cred...
Read more

Zeebu Celebrates a Resounding Success at Exclusive Yacht Party during Token2049 Singapore

Image
Singapore – September 20, 2023   – Zeebu, the pioneering on-chain B2B invoice settlement platform, successfully concluded its Yacht Party during TOKEN2049 in Singapore on September 14th, 2023, setting the stage for an unforgettable evening. The event was a resounding success, attracting a significant number of industry leaders, experts, and investors for an evening of networking and insightful discussions. The Yacht Party also garnered attention from major industry media outlets, including Coingape and Bitcoinworld, further amplifying its impact.   Zeebu made its debut as a sponsor at TOKEN2049 Singapore, reinforcing its position as a key player in the industry’s premier event. The week was filled with excitement for the Zeebu team, with their booth at TOKEN2049 serving as a hub of activity. Zeebu’s co-founder and CMO, Raghavendra Hunasgi, delivered a keynote speech at the conference, further highlighting Zeebu’s commitment to the industry. In addition, Zeebu co-hoste...
Read more