Recently, the popularity of PEPE is still high, attracting the attention of many investors. Many people are optimistic about its prospects, mainly because it has soared an astonishing 17 times from the lowest price to the highest price. Such an increase is undoubtedly a huge temptation for investors, especially those who have held it but failed to stick to it. They are eager to find an opportunity to make up for the missed profits.
Another reason for attracting people is its low price. 100 US dollars can buy a lot of PEPE, which makes many people have the illusion of "affordability". They may think: "Since the price is so low, and some people advocate its future potential and unlimited value, it doesn't matter if I buy a little and put it aside. If I lose too much, I won't make too much. If I make a profit, I will turn over a big turn."
However, this mentality is not actually investing, but more like pursuing an unrealistic dream. Even if you buy a dream, you need to consider the timing and risks. Every penny is the result of hard work, even 100 US dollars is no exception.
From my personal point of view, the risk of investing in PEPE at this point is far greater than the potential benefits.
Next, we use the Qianlong tactics to analyze the daily (mid-line) trend of PEPE:
From the daily chart, PEPE's upward trend is smaller and smaller, and the volume of bulls is gradually decreasing, which shows that the power of bulls has begun to decline.
The area between the two white lines above belongs to the pressure zone. Normal rise should break through with large volume when encountering pressure, but PEPE not only did not increase volume here, but shrank, which is a very dangerous signal.
PEPE has tried to break through the first pressure point above three times, but all failed. Moreover, the entity of the K-line is getting smaller and smaller, and the amplitude is gradually narrowing, which conforms to the law of "one effort, then decline, and then exhaustion", showing that the power of bulls has become weaker and weaker.
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