The price of Pepe's coin can be on the verge of a big crash this year after the risky pattern is formed, and since the data show that smart money investors have sold their stakes. This crash can also happen if the price of Ethereum does not jump over $ 2000 resistance.
The price of Pepe's coin is in danger as smart money investors sell
The price of Pepe's coin has fallen by 70%of the highest point of 2024, reflecting the performance of other memo coins. This plane crash has coincided with the symbolic sale of smart money investors, which is considered more experienced than retail investors. In most cases, these investors sell coins at their peak and start gathering before retailers do.
Nansen watched just 17 Smart money owners May 7 out of 32 in November last year. These owners have continued to leave their position as the price drops. The rest now hold the Pepe badge of 2.79 trillion, which is 3.7 trillion lower in November last year and 4.24 trillion in June.
One possible reason for this is that Pepe is the second largest meme coin in the shiba inu. Investors have largely sold these coins The price of ethereum It has fallen from $ 1,800 last year to $ 4,000. As such, Ethh's weakness can cause more Pepe sales in the coming months.
Another reason is that these investors sold their Pepe coins and turned to people in the Solana ecosystem. Just recently, the top Solana memo coins Like Fartcoin, DogwiFhat and Bonk, they rose with double smart money, attracting smarter money investors.
Pepe's price forecast this year points to a plane crash
A three -day chart indicates that Pepe's value In December last year, the maximum was $ 0.00002825, for the first time, pushing its ceiling to over $ 10 billion. This has fallen by more than 70%of the highest level in December, paying billions of dollars to investors.
Pepe Price has moved from the bottom of the rising channel, which connects the lowest point after April last year. The price of the Pepe coin has last formed a pattern of the rising wedge chart, which often leads to the breakthrough of the bears.
This wedge pattern was formed after a major crash, which means that it has formed a bear flag. It has also fallen below 50 days of moving average. Therefore most likely Pepe's forecast is where it organizes a strong breakthrough, potentially $ 0.00009618, falling from the current level to almost 90%.
The crisp prospect becomes invalid as Pepe's price rises from a significant resistance level to $ 0.000057. The step above this level sees it with the next point to $ 0.00007, the highest swing in May last year.
Frequent questions (FAQ)
The coefficients are that the coin has a breakthrough because smart money investors sell their chips.
These investors sold their coins when Pepe sold and the price of Ethereum was less than $ 2,000.
It is likely that Pepe's value will continue to fall in the coming months.
crisp
Crispus is an experienced financial analyst at Coingape, which has a 12 -year experience. It focuses on bitcoin and others on the Altcoins, covering the intersection of news and analysis. His knowledge has been reflected on well -known platforms such as Banklesstes, Coinjournal, Hypeindex, Seekingalpha, Forbes, Investingcube, Investing.com and Moneytransfers.com.
Obligations: The content presented may include the author's personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrency. The author or publication is not responsible for your personal financial loss.
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