Check Out This Shocking Pepe Coin Versus Bitcoin Comparison
02 Maio 2023 - 5:23PM
NEWSBTC
Pepe coin is the most talked about asset in the crypto market right
now. The less than one-month-old meme token has nothing at all to
do with Bitcoin, yet shockingly is displaying nearly exact price
patterns. Don’t miss this incredible and unusual chart
comparison between BTCUSD and PEPEUSDC. A Quick Recap Of Pepe
Coin And Its Runaway Crypto Success Pepe coin is one of the biggest
new meme coins, prompting a massive wave of more meme tokens of all
kinds. If you couldn’t tell by the name, much like Dogecoin is
associated with the Doge meme, this one features the Matt
Furie-created Pepe the Frog. Related Reading: Can Meme Coin PEPE
Get Into The Top 100? Read This Before Buying Anyone who invested
in Pepe coin over the last couple of weeks “feels good, man.” That
is because it has risen in value by over 2,500% in 14 days —
numbers that are high even by crypto standards. Most of the
supply of holders at this point is in substantial profit. But if
the Bitcoin chart is any indication of what’s to come, some serious
profit taking could be ahead. In the comparison below, we
have put the 4-hour PEPEUSDC chart up against the weekly BTCUSD
chart. The left chart features two weeks of price action, while the
chart on the right shows four full years. Yet they are extremely
similar. Bitcoin versus the frog king of the memes | PEPEUSDC
on TradingView.com The Unusual Bitcoin Comparison Explained
According to study of Elliott Wave Principle, markets are fractal
and form self-similar, repeating patterns across various degrees of
timeframes. Simply put, the same price action and behavior can
appear on an hourly or 4H chart as it does on a much higher
timeframe. Related Reading: Sad Frogs: Why The Parabolic Pepe Coin
Could Flatten By 80% The study focuses on mass crowd behavior and
human psychology, particularly how it can create clearly definable
turning points in financial markets. The two charts looking
and behaving so similarly could be due to the same type of
speculative behavior. Importantly, if the comparison is
accurate for the reasons discussed, it could indicate that Pepe
coin is due for some profit-taking and a correction soon enough. Of
course, the meme coin could be nowhere near done and anyone who
sells now could be a very, very sad frog. Did you buy Pepe?
Tell us on Twitter. Did you buy #PEPE? Comment = No 😭Retweet = Yes
🤑Like = Soon 🐸 — NewsBTC (@newsbtc) May 2, 2023 Follow
@TonyTheBullBTC & @coinchartist_io on Twitter. Join the
TonyTradesBTC Telegram for exclusive daily market insights and
technical analysis education. Please note: Content
is educational and should not be considered investment
advice. Featured image from iStockPhoto, Charts from
TradingView.com
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