As mentioned before, the strong performance of DOME currency has attracted widespread market attention. As the originator of meme coins, the rise of DOME is not accidental, but the result of market choices. Similarly, Pepe, a new meme coin this year, also showed impressive combat effectiveness, with an overall increase of 114%. Compared with many tokens, the increase is quite considerable. Today, pepe's market value has reached 500 million, becoming a meme token that has created a high-magnification myth this year.
Although pepe's operating methods are different from other tokens, and the official Twitter does not often release information and only occasionally shares some strange expressions about pepe, this has not affected its continued popularity in the market. This just proves the charm of meme coins. Many people think that meme coins have no value, are garbage coins, and air coins. They have no practical applications and can only be used for speculation. However, this hype fits right in with the prevailing emotional rhythm of the current crypto market.
In this wave of ETF hype, we have seen many tokens perform well. Bitcoin has reached this position again. This round of speculation, apart from pushing up the price of Bitcoin and the entire market, does not seem to have brought anything effective. Therefore, when we look at tokens, we cannot just focus on their value and future applications. The ability to speculate is equally important as the emotional value. I have been wrong about this before, but it turns out that emotional value is the main rhythm of the current encryption market.
Of course, although I have changed my opinion, it does not mean that I am very optimistic about meme coins. For pepe, finding the right time to perform band operations is undoubtedly a wise choice. However, I would not recommend treating it as a belief. Likewise, I advise many of my friends not to rely too much on meme coins. Of course, if you are already trapped, you can only hold your nose and take it as faith.
After a long period of baptism, can DOGE return to its former glory? For those friends who are trapped on the top of the mountain, is there still a chance to get out of the trap? As the market becomes more hyped, there are always people who make profits and leave the market by buying at the bottom, but there are also people who get caught in it. As time passed, PEPE gradually caught up with the market value of DOGE.So, how many chips are trapped above? Moreover, unlike DOGE, PEPE does not have Musk’s blessing and does not have much hype value. Instead, various PEPE-based meme tokens have sprung up, such as PEPE 2.0, PEPE 3.0, and even Baby PEPE. These token projects gradually consume people's favorability towards PEPE. Therefore, we cannot just rely on faith, but we must find a suitable spot to eat.
Currently, PEPE has entered a callback period. Both the 1 hour and 4 hour Bollinger Bands have broken. Therefore, we need to refer to the daily Bollinger Bands to see the pullback support of PEPE. The current PEPE price has retreated to near the center of the daily Bollinger Bands, which is around 115. If the short-term decline continues, the daily Bollinger Band support below will appear near 100. In addition, the vicinity of 085-100 is also a support level where chips are concentrated. Therefore, we can pay close attention to the situation around 1-085. If the position cannot be stabilized, we will have to wait again.
When it comes to meme coins, patience is key. If we are not patient enough and think it is safe to enter the market at a low position, in fact, this may become a high position in the eyes of others. Moreover, these highs may be difficult to reach again in future meme coin moves. I know there are many people who believe in PEPE, but even if you believe in it, it cannot escape the norm of meme coins. This is the characteristic of meme coins: when it is lively, it is full of people, but once it calms down, there is nothing left. Therefore, we need to be cautious and look for the right point to enter the market, rather than blindly believing or following the trend.
Finally, in order to facilitate everyone's communication, I responded to the requests of fans and established a free communication place. It has been established now, because I can’t say too much about the square. You can follow my other self-media on your own.
