🔥 The alt season is beginning on the market. Many alts are yielding tens and even hundreds of percent per day. But there are also those among them from whom we clearly expected more.
And I'm talking about old memes like Doge, PEPE, SHIB, and others.
Over the past month, PEPE has grown by only 60%. Is everything really that bad? Let me explain:
1️⃣ The latest growth impulse formed a divergence with the price in terms of volume. Throughout the growth over the last 4 months, purchase volumes continued to decline. This signals a waning interest in PEPE as the price rises.
2️⃣ Money Flow also shows a near-total lack of new liquidity. Fresh money is not flowing into the asset, and even now, in such an euphoric phase, PEPE's liquidity indicator is in the neutral zone.
3️⃣ PEPE has formed a local lower high and has already deviated from resistance at $0.00001439. It has already corrected by 6% today. This shows that there is currently no liquidity in the asset to drive the price higher.
4️⃣ GAP was formed at the levels of $0.00001241 - $0.00001027. And as we know, 99% of GAPs close sooner or later.
Nevertheless, we see high levels of interest at lower prices. When the fifth 0 appears. However, these zones can also change quickly in the event of a major correction of the entire market, and no other correction will bring the asset to such prices in the short term.
📌 Conclusion:
Right now, old memes really do look sad. Thousands of new memes are created every day that can give big returns, and people are asking themselves, “If I buy a meme with no value, why should I buy an old one?”
🔔 So, at current prices, PEPE is clearly of no interest to anyone. But, as is usually the case, once such coins fall below a certain price, whales will take positions and start pushing them up. Everyone will suddenly notice how undervalued this wonderful coin was.
So, for those who want to buy, I advise you to relax, you are not missing out on anything. And there will definitely be better prices for buying.
And stay in tune by subscribing, for more insightful ideas!
And I'm talking about old memes like Doge, PEPE, SHIB, and others.
Over the past month, PEPE has grown by only 60%. Is everything really that bad? Let me explain:
1️⃣ The latest growth impulse formed a divergence with the price in terms of volume. Throughout the growth over the last 4 months, purchase volumes continued to decline. This signals a waning interest in PEPE as the price rises.
2️⃣ Money Flow also shows a near-total lack of new liquidity. Fresh money is not flowing into the asset, and even now, in such an euphoric phase, PEPE's liquidity indicator is in the neutral zone.
3️⃣ PEPE has formed a local lower high and has already deviated from resistance at $0.00001439. It has already corrected by 6% today. This shows that there is currently no liquidity in the asset to drive the price higher.
4️⃣ GAP was formed at the levels of $0.00001241 - $0.00001027. And as we know, 99% of GAPs close sooner or later.
Nevertheless, we see high levels of interest at lower prices. When the fifth 0 appears. However, these zones can also change quickly in the event of a major correction of the entire market, and no other correction will bring the asset to such prices in the short term.
📌 Conclusion:
Right now, old memes really do look sad. Thousands of new memes are created every day that can give big returns, and people are asking themselves, “If I buy a meme with no value, why should I buy an old one?”
🔔 So, at current prices, PEPE is clearly of no interest to anyone. But, as is usually the case, once such coins fall below a certain price, whales will take positions and start pushing them up. Everyone will suddenly notice how undervalued this wonderful coin was.
So, for those who want to buy, I advise you to relax, you are not missing out on anything. And there will definitely be better prices for buying.
And stay in tune by subscribing, for more insightful ideas!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.