- In the last week, PEPE’s value has increased by over 80%.
- Analysts believe that it marks the beginning of an impending general pullback in the market.
Pepe [PEPE] and Floki [FLOKI] meme coins have led the rally in the cryptocurrency market over the past week, both climbing by over 80%, data from CoinMarketCap showed.
Is your portfolio green? Check the Pepe Profit Calculator
However, in a recent post on X (formerly Twitter), crypto analyst Ran Neuner warned that this could be a sign of an upcoming pullback in the general market.
If you want to know when a pull back is coming, just watch $PEPE. It’s literally an index for when the market is getting overheated. When people are confident enough to go there and it pumps, that’s your sign to exit. Works every time. pic.twitter.com/vMcqiddHwp
— Ran Neuner (@cryptomanran) October 26, 2023
Neuner’s warning was based on the historical observation that PEPE has often surged ahead of major market pullbacks. For example, in September 2023, Pepe rallied by over 1,000% between 22 and 30 September.
During the same period, BTC’s value crashed by almost 5%.
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Author: Abiodun OladokunDid you like this?
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