Pepe (SOLANA)

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-warns-investors-about-meme-coins/" data-wpel-link="internal">Analyst Warns Investors About Meme Coins</a> 
An analyst, known for his accurate predictions in the <a href="https://en.coin-turk.com/eyes-on-us-inflation-data-for-the-crypto-market/" data-wpel-link="internal">cryptocurrency market</a>, has resurfaced. This analyst correctly predicted the market’s bottom in 2022. He has now made some concerning comments about meme coins, alarming <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a>. 
<h2 style="text-align: justify" id="analyst-s-comments-on-meme-coins">Analyst’s Comments on Meme Coins</h2> 
DonAlt, an analyst, issued significant warnings on social media platform X about meme coin projects potentially collapsing suddenly. 
<blockquote> 
 I am personally convinced that everything is over for meme coins; the rest of the market might recover, but I expect meme coins to experience a giga rug pull. If your portfolio includes the 10th iteration of a dog or cat coin, good luck. 
</blockquote> 
The analyst made specific comments about certain meme coins, warning that Pepe (PEPE) could drop to a lower range if it fails to maintain the $0.00000998 level as support on the daily chart. 
<blockquote> 
 PEPE: A good breakout, technically bullish as long as it holds. If it fails and returns to the range, I will short targeting the range lows. I prefer WIF but might spread my bets. 
</blockquote> 
Pepe is trading at $0.000010016 after a 0.5% increase in the last 24 hours. PEPE’s market cap has reached $4.2 billion after a 0.46% increase. Its 24-hour trading volume has dropped to $1 billion after a 36% decrease. 
According to the analyst, if the meme coin dogwifhat (WIF) fails to reach and turn the $3.15 high level into support, it could drop to the $2.23 low range. 
<blockquote> 
 WIF: Actively wants to short the high range. Target a place below the low range. If the range breaks properly, it’s wrong. 
</blockquote> 
WIF continues to trade at $2.83 after a 1.24% drop in the last 24 hours. WIF’s 24-hour trading volume has dropped to $526 million. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-352717" src="https://coin-turk.com/wp-content/uploads/2024/05/pepe-3.png" alt="" width="1038" height="497"> 
<h2 style="text-align: justify" id="why-is-the-analyst-against-meme-coins">Why Is the Analyst Against Meme Coins?</h2> 
The analyst also listed several reasons why he is bearish on meme coins. 
<blockquote> 
 Reasons why I am against memes: 
 <ul style="text-align: justify"> 
 <li style="text-align: justify">There are already an infinite number of meme coins.</li> 
 <li style="text-align: justify">Thousands more are released every day.</li> 
 <li style="text-align: justify">Many people believe in the GME-meme rotation narrative (which I think is beyond stupidity).</li> 
 <li style="text-align: justify">The charts generally do not look good.</li> 
 <li style="text-align: justify">Sentiment has largely shifted to bullish.</li> 
 </ul> 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-warns-investors-about-meme-coins/" data-wpel-link="internal">Analyst Warns Investors About Meme Coins</a></h5>

Analyst Warns Investors About Meme Coins

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