Pepecoin (PEPE), which was launched in mid-April and attracted the attention of many from whales to smaller investors, still continues to be in the focus of attention of investors.
Peaking at $0.0000044 after being listed on Binance in early May, PEPE has fallen 65% since then.
A long way from its peak, PEPE fell as low as $0.00000106.
Whales, who took advantage of the decline of PEPE, made large purchases, and even though PEPE went up to $0.0000020, it could not maintain this gain and fell again. At the time of writing, it stands at $0.00000153.
While some investors, who expect PEPE to rise even higher and buy at high levels, wondered in which direction PEPE will move, PEPE analysis came from Michael van de Poppe, who attracted attention with his analysis of cryptocurrencies.
Stating that PEPE is showing a downward trend, Poppe said that he thinks this trend will continue a little longer and that the $0.00000085 level should be followed for entry.
The analyst also thinks that PEPE will continue to decline if it fails to regain the $0.000001625 level.
“Well PEPE is already moving down.
I think we will continue this trend. I would preferably watch around 0.00000085 for re-entry to PEPE.
For now, it looks like the downtrend will continue as long as 0.000001625 is not retraced in PEPE."
Well, $PEPE is moving downwards.
I think we'll continue that trend and I'd preferably watch an entry around 85000 for a play.
Shorts for now, unless 162500 is reclaimed. pic.twitter.com/A7OkUY2jDk
— Michaël van de Poppe (@CryptoMichNL) May 17, 2023
*Not investment advice.
