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<p>The post <a href="https://coinpedia.org/news/top-analyst-warns-of-pepe-coin-downtrend-amid-memecoin-surge/" rel="noopener noreferrer nofollow">Don’t Bet on PEPE! Top Analyst Warns of Potential Price Drop</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p><p>Meme markets surged with excitement as <a href="https://coinpedia.org/news/are-tether-and-ethereum-facing-collapse-hint-past-key-events/" rel="noopener noreferrer nofollow">Keith Gill</a>, famously known as Roaring Kitty, made a comeback, reminiscent of his pivotal role in the January 2021 GameStop short squeeze.</p><p>In his latest enigmatic post, Gill shared a meme portraying a focused gamer, sparking speculation about a potential surge in the meme coin arena.</p><p>According to <a href="https://cryptoslate.com/biggest-gainers/" rel="noopener noreferrer nofollow">data from CryptoSlate’s</a> top gainers list, relatively obscure meme coins like MOG Coin, Popcat, and Book of Meme witnessed notable upswings following Gill’s post. Meanwhile, established meme coins like Dogecoin, Shiba Inu, and Floki also saw substantial upticks during this period.</p><h2 class="wp-block-heading" id="h-analyzing-altcoin-trends">Analyzing Altcoin Trends</h2><p>Crypto analyst Ali Martinez cautions that not all altcoins will reap equal benefits from the market frenzy. Martinez singles out PEPE as a cryptocurrency potentially poised for a price retracement.</p><figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"><blockquote class="twitter-tweet"><p>.<a href="https://twitter.com/TheRoaringKitty?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@TheRoaringKitty</a>'s return has the crypto community buzzing about <a href="https://twitter.com/hashtag/memecoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#memecoins</a>! While some <a href="https://twitter.com/hashtag/altcoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#altcoins</a> may thrive, others might not. <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PEPE</a>, in particular, seems poised for a retrace.<br><br>The TD Sequential shows two sell signals on the <a href="https://twitter.com/hashtag/PEPE?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#PEPE</a> 3-day chart: an aggressive 13 and a green nine… <a href="https://t.co/9spYZnQ1LO" rel="noopener noreferrer nofollow">pic.twitter.com/9spYZnQ1LO</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1791071611237326937?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 16, 2024</a></blockquote></div></figure><p>Currently under bearish pressure, Pepe is showing signs of a sell-off around its recent high of $0.0000116. The coin’s attempt to breach below the EMA20 trend line signals a possible shift in the prevailing trend.</p><p>A decisive dip below the critical support range of $0.00001 to $0.000008 could confirm a bearish pattern, potentially pushing the pair toward a robust support level at $0.0000055.</p><h2 class="wp-block-heading" id="h-indicators-pointing-south">Indicators Pointing South</h2><p>Delving deeper into the $PEPE token’s performance on a 3-day chart, Martinez identifies significant indicators hinting at a potential downturn. Notably, the TD Sequential indicator recently flashed two noteworthy sell signals: an aggressive 13 and a green nine candle, suggesting a probable reversal in price momentum.</p><p>Additionally, Martinez highlights a bearish divergence between $PEPE’s price action and the Relative Strength Index (RSI), with the RSI’s sharp decline toward the midline indicating prevailing bearish sentiment.</p><h2 class="wp-block-heading" id="h-understanding-future-prospects">Understanding Future Prospects</h2><p>Despite these bearish signals, buyers are striving to <a href="https://coinpedia.org/news/pepe-coin-price-surge-smart-investor-made-millions-in-profit-with-943-roi/" rel="noopener noreferrer nofollow">maintain Pepe’s price</a> above the 20-day Exponential Moving Average (EMA) at $0.00001. A successful defense of this level could prompt a rise toward the recent high of $0.0000116.&nbsp;</p><p>As of now, Pepe Coin is <a href="https://markets.coinpedia.org/pepe/" rel="noopener noreferrer nofollow">trading at $0.0000102</a>, reflecting a decline of over 4.9% in the last 24 hours.</p><p><strong>Think PEPE can defy the odds?</strong></p>

Don’t Bet on PEPE! Top Analyst Warns of Potential Price Drop

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