Brief Analysis——PEPEPreviously, we conducted a brief analysis of PEPE and FLOKI, suggesting a high probability of fluctuations. Today, PEPE has become the focus of the market once again and is approaching ATL. We remake the analysis of PEP and FLOKI, hoping to provide you some inspiration.
Today, the PEPE team and early buyers have transferred a significant amount of PEPE to exchanges. These actions have caused the price to approach its half-year-lows. As a legendary meme token, its founder has not followed the announced route map to develop the PEPE community and increase its utility. This has disappointed many meme holders, leading to a decline on the majority of meme tokens today.
After our last brief analysis, the bulls for PEPE strengthened, rebounding for a while. However, the bears has not weakened and it pushed the price back to the starting point of the rebound. After that, the bulls did not strengthen and the price remained within a narrow range. You can see this from the downward slope of the green arrow. On Thursday, the bulls came back from a break, as prices broke out of the lower rail of the range and broke the half-year-lows.
Conclusion: The high probability decline has not ended. Like we said above, the bears was stronger than the bulls. We draw this conclusion as PEPE is near the lows and bulls are likely to strengthen. We set the resistance level at 0.00000113 and maintain the original support level at 0.00000085. This support level is not strong.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
