{"id":529421,"date":"2023-05-01T19:54:57","date_gmt":"2023-05-01T19:54:57","guid":{"rendered":"https:\/\/wncen.com\/?p=529421"},"modified":"2024-06-11T14:35:55","modified_gmt":"2024-06-11T14:35:55","slug":"sad-frogs-why-the-parabolic-pepe-coin-could-flatten-by-80","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/sad-frogs-why-the-parabolic-pepe-coin-could-flatten-by-80\/","title":{"rendered":"Sad Frogs: Why The Parabolic Pepe Coin Could Flatten By 80%"},"content":{"rendered":"

Pepe coin<\/a>, the meme cryptocurrency based on the popular internet meme, has become the newest sensation across crypto.<\/p>\n

Although it has made early buyers extremely happy \u2013 and extremely wealthy \u2013 it could soon leave many holders feeling flattened due to a possible 80% correction. Let’s take a closer look.<\/p>\n

Feels Good, Man… For Now<\/h2>\n

What goes up, must come down. The bigger they are, the harder they fall. Regardless of the phrase you choose, there is a lesson related to Pepe possibly on the way.<\/p>\n

Related Reading: Can Meme Coin PEPE Get Into The Top 100? Read This Before Buying<\/a><\/div>\n

Few meme coins these days are a bigger deal than Pepe, rising from nothing to into the top 100 cryptocurrencies<\/a> by market cap in a little over two weeks since its launch.<\/p>\n

It’s vastly out-performed meme coin brethren Dogecoin and Shiba Inu, and the dozens of new coins that Pepe’s runaway success has spawned. But after an especially big rally of well over 400% in the last 48 hours, holders who bought he top could ultimately find out what it means to be a sad frog meme.<\/p>\n

\"parabolic<\/p>\n

The parabolic Pepe coin curve | PEPEUSDC on TradingView.com<\/a><\/pre>\n
Predicting A Massive Pepe Coin Crash<\/h2>\n
PEPEUSDC on Uniswap is one of the first charts to launch on TradingView<\/a> with the largest amount of price data. Since the chart’s inception, it has brought investors 3,000% ROI. Earlier adopters turned $250 into a cool mil.<\/p>\n
Those who bought the top might be at risk of turning a million into lot less, considering the risk of a more than 80% correction. The risk is due to the parabolic curve pictured above breaking down violently.<\/p>\n
Related Reading: PEPE Goes To The Moon: Meme Coin Listed On OKX, Binance Listing In the Works?<\/a><\/div>\n
A rule of thumb in technical analysis is to expect at minimum an 80% retracement of a parabolic rally. Crypto holders would do well to remember that Peter Brandt famously called for an 80% collapse in Bitcoin<\/a> after the 2017 peak.<\/p>\n
After that parabolic rally ended, BTCUSD dropped at full 84% from top to bottom before it was over. Brandt nailed the target over a year in advance. If Pepe coin has topped out after a 3,000% gain, a roughly 80% correction might be due.<\/p>\n
But much like Bitcoin then, after the correction, Pepe coin being such a new and hot coin should eventually bring substantial returns again. However, while the greater crypto market corrects, profit taking could aggressively spill into Pepe holders, who have a lot more room to fall compared to the rest of the market. As a result, things could get ugly quickly.<\/p>\n
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Today, we are talking about the MEASURE RULE, and how to use it in technical analysis to find profit targets and determine risk:reward in crypto trading using #PEPE<\/a> as an example <\/p>\n
Here\u2019s how not to be a sad frog \ud83d\udc38 $PEPE<\/a> pic.twitter.com\/JqqDhvnJez<\/a><\/p>\n
— CoinChartist (@coinchartist_io) April 30, 2023<\/a><\/p><\/blockquote>\n