,You can also read this news on COINTURK NEWS: Analyst Predicts Significant Drop for PEPE and Warns About WIF
Known as DonAlt, the analyst who accurately predicted the major upward breakout in the cryptocurrency market in 2023, has made a notable bearish prediction for Pepe (PEPE). The analyst also issued a warning for dogwifhat (WIF).
Warns of Bearish Outlook for PEPE
Addressing his followers on the social media platform X, DonAlt suggested that PEPE made a fake breakout by reaching an all-time high (ATH) before sellers pushed the price below $0.000009959. In technical analysis, a fake breakout typically indicates a significant drop and suggests that selling pressure is suppressing demand.
The analyst continued by emphasizing that PEPE’s drop below its ATH indicates a fake breakout and that the altcoin’s chart will remain bearish unless it surpasses its ATH. According to DonAlt, if the popular altcoin exceeds its ATH, the bearish trend may turn into a bullish one.
According to DonAlt’s analysis, the next critical support level for PEPE is at $0.0000065, and the price must not fall below this level to avoid strengthening selling pressure.
Highlights Bearish Trend for WIF
DonAlt also commented on another popular memecoin, dogwifhat’s WIF, stating that it will remain in a bearish trend unless it surpasses a significant price level. He noted that WIF has almost returned to its recent low range and would look better above $2.77 or below $2. Currently, WIF is trading at $2.68.
On the other hand, the analyst expects significant devaluations for altcoins in the memecoin market based on historical data from previous cycles. DonAlt added that many of today’s highly popular memecoins will lose more than 80% of their value. According to him, new memecoins will emerge, form new communities, and experience significant price increases, but the same devaluation cycle will continue to be followed.
DonAlt’s prediction is based on historical patterns observed in the cryptocurrency market. The analyst noted that this scenario has played out multiple times in cryptocurrency history. Although the current memecoin peak has not yet been reached, it will eventually be reached, and even the most reputable memecoins will face a 90% drop in value.
The post first appeared on COINTURK NEWS: Analyst Predicts Significant Drop for PEPE and Warns About WIF
Analyst Predicts Significant Drop for PEPE and Warns About WIF
Release: 2024/05/20 21:11 Reading: 972
Original author:COINTURK NEWS
Original source:https://coinmarketcap.com/community/articles/664b40fbc1079e591b4f6170
Recent news
MORE>>- Bitcoin Sistemi EN 2024-10-08 00:32:31
- TheNewsCrypto 2024-10-08 00:03:00
- U_Today 2024-10-08 00:02:52
- U_Today 2024-10-08 00:02:43
- DogeHome 2024-10-08 00:02:33
- Crypto Intelligence 2024-10-07 23:03:00
- The Bit Journal 2024-10-07 23:02:53
- DogeHome 2024-10-07 22:32:11
- Coingape News Media 2024-10-07 22:03:09
Selected Topics
-
- Dogecoin whale activity
- Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
-
- Dogecoin Mining
- Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
-
- Spacex Starship Launch
- This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
-
- King of Memes: Dogecoin
- This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.
Selected Articles
More>>- 1 Dogecoin and SHIB Are Out—Meet the $0.0005 Coin for 2024 Gains
- 2 Dogecoin (DOGE) Shows Trend Reversal Potential, Massive Bitcoin (BTC) Breakout: What's Behind It? Toncoin (TON) $6 Target Extremely Close
- 3 Peasant Pepe Solana Memecoin Will Rally 19,000% Ahead of Exchange Listings, While SHIB and DOGE Lag
- 4 Trump’s Pussy (TRUMPPUS) Memecoin to Explode Over 18,000% Before Exchange Listings, While Shiba Inu and Dogecoin Lag
- 5 Market Madness: Solana & Bittensor Rebound, While Investors Swarm Towards BlockDAG’s $60.9 Million Presale
- 6 MoonBag Crypto Presale Generates Strong Investors Interest, Becoming Superior to Pepe Coin and Polkadot
- 7 Elon Musk’s Support Boosts Hope Despite Dogecoin’s 15.55% Drop
- 8 MoonBag Leads As The Top Crypto Presale in 2024, Leaving Behind Coins Like Dogecoin and Chainlink
- 9 Analyst Highlights Promising Altcoins and Sectors
- 10 Tired Of Losing Money To Crypto Scams? These Altcoins Can 10x Your Money Quickly: ETFSwap (ETFS), THORChain (RUNE) And Pepe (PEPE)
ABOUT US
We are building the most influential,trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.Dogehome is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the DOGEHOME team at admin@dogehome.com