BIT Blog

Analysts' Insights

Analysts' Insights

This week Meme-Coins Crashed

1) Earlier in the week, we showed that the top traded meme coin PEPE broke its uptrend line as news around the PEPE token peaked at the same time it was listed on Binance.

2) We noticed that the PEPE coin started losing value during trading hours in Asia.

3) As most of the price appreciation on the way up also occurred in Asia hours, we thought this was a sign of profit-taking and warned to be cautious.

4) Last weekend, the PEPE value peaked at $1.8bn and currently stands at $0.5bn.

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