False Breakout for Pepe
Analyst DonAlt, known for predicting the 2023 crypto surge, believes Pepe (PEPE) is facing a sharp decline. After a false breakout to new highs, sellers pushed the price below its previous range. This bearish sign suggests that demand is being overwhelmed by sellers.
Support Levels for Pepe
DonAlt predicts that Pepe could drop to $0.0000065, a significant support level. At the time of writing, PEPE is trading at $0.0000090.
Dogwifhat (WIF) Also Bearish
DonAlt also warns about fellow memecoin dogwifhat (WIF). Unless it recovers a key price level of $2.77, it remains bearish. Currently, WIF is trading at $2.68.
Massive Devaluations in Memecoins
DonAlt believes that the entire memecoin sector could witness massive devaluations, similar to previous cycles. He predicts that popular memecoins today could lose over 80% of their value. New memecoins will then emerge, leading to the same discussions in the future.
Caveats
It’s important to note that these are the opinions of one analyst and should not be taken as investment advice. Investors should conduct their own research before making any high-risk investments in cryptocurrencies.
