The post PEPE Price Analysis: Is It the Right Time To Buy The Dip? appeared first on Coinpedia Fintech News
After receiving a royal welcome into the crypto meme coin market, the Pepe (PEPE) token experienced increased sell pressure in the past 24 hours amid heightened uncertainty. The confusion in the third largest meme coin emanated when the core developers changed the multi-sig settings to reduce the signatures required to confirm transactions from 5 to 2. The odd behavior was worsened after the core developers sent about 17.3 trillion Pepe tokens, worth about $18 million, to different exchanges including Binance.
The huge transaction caused panic within the Pepe community as the core developers had not issued a formal update on the on-chain anomalies. For instance, early Pepe coin investors dumped about 1.88 trillion units worth about $1.68 million on decentralized exchanges.
The Brighter Side of Pepe Coin
Despite the glaring anomalies on the third largest meme coin, popular crypto analyst Miles Deutscher argued now could be a good time to enter the market. Moreover, Pepe’s price action shows the asset is currently sitting on a crucial support level that could yield a bullish rebound. Nonetheless, the analyst argued that it is prudent for traders to keep watch on the situation at hand to avoid getting rekt.
“…for those willing to take on some risk – it’s important to note that PEPE is sitting on major support. From a technical perspective, if we see a decent response here – it may be a good buy,” Miles noted.
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks