Pepe (PEPE) token on Ethereum is not your typical conservative investment, it’s actually a financial advisor’s worst nightmare. It’s a speculative, digital Internet currency secured by peer-to-peer networks with decentralized finance algorithms. It’s also decorated with a creepy looking cartoon frog instead of a former U.S. president. This has caused some buzz in the market, with the rise of right-leaning meme coins that have begun to trend in June amid a wider market breakdown among meme coins.
Pepe Coin has been on the rise after cryptocurrency prices corrected in June. It recently tested resistance at the $0.000012 level, but failed to break out. Despite this, there is a possible cup and handle pattern on PEPE’s chart, indicating a potential breakout soon. The cup and handle pattern is considered a bullish signal, with the right-hand side of the pattern typically experiencing lower trading volume according to Investopedia.
Pepe has managed to avoid some of the damage other cryptocurrencies have sustained as markets correct. While the overall market trend is uncertain, Pepe has been doing better than most of the meme segment with a weekly loss of only 2.5% against all its peers’ much stiffer losses this past week.
As for other right-wing meme tokens, Book of Meme (BOME) and Trump Coin (MAGA) are also showing signs of potential. They are finding support at crucial levels, making the outlook for these tokens potentially profitable for investors looking for a leg up.
Describing Pepe Coin as a frog-themed memecoin, UnchainedCrypto has noted that crypto market traders view PEPE as “ETH Beta.” This means that when Ethereum price goes up, Pepe usually goes up by even more. The hazard is that this works in reverse, so when Ethereum goes down, Pepe goes down by more.
For investors looking for a leg up, new currencies in the presale stage like Pepe Unchained tend to provide more Beta when they launch. This is because they start off with a smaller capitalization against the rest of the market. These could potentially be worth hunting. If you’re interested, you can visit Pepe Unchained for more information.
