Can PEPE become a coin that increases by hundreds or thousands of times? Is PEPE still suitable for layout?

Recently, a token "PEPE" in the Memecoin series has attracted much attention, and the sudden wealth effect it has caused has attracted the attention of many investors. Meme series tokens like PEPE are often regarded as Dogecoin and Shiba Inu coin in the last round of bull market. They are consensus hype, but lack practical application support, so they are called altcoins.

However, whether it is mainstream coins, sub-mainstream coins (with practical application value), or altcoins (pure hype and consensus effect), they need to be bought at a relatively low level to minimize risks and exit in time when the top is identified.

Next, we will explore whether PEPE faces risks or opportunities after the correction in March and April?

After a long correction, the short-selling force of PEPE gradually weakened, and the decline gradually slowed down until it broke through the neckline on October 23, 2023, opening an upward trend. Although the market has fallen again since then, it cannot change the establishment of the upward trend. The correction is only for a better rise.

On February 5, 2024, the market pulled back to the neckline and a stop-loss signal appeared, which opened a new round of rise, and gradually increased in volume, even breaking through the historical high, showing that the bulls were quite strong.

However, there were some unusual signs in the market on March 4, 2024. Although it was still a large-volume rise and broke through the previous high again, the breakout was small, and the Yang line entity was also much smaller than the previous one. This shows that although the market is rising on the surface, the bulls actually encountered certain resistance, and then the market had a round of correction.

Although there has been another rise in the past three weeks, we need to observe the trading volume carefully. Compared with the previous period, the trading volume has shrunk, indicating that the bulls have weakened.

From the weekly chart, the conclusion that can be drawn at present is that the bulls have begun to lose momentum, but there is no obvious reversal signal, so it is necessary to continue to observe market dynamics.