Crypto Analyst Warns of Potential Top for PEPE Meme Coin as Price Nears Target – Here’s His Outlook

Crypto analyst SenseiHov has raised concerns about the potential formation of a top for the Pepe (PEPE) token. This comes as the price of PEPE nears a crucial target level, prompting the analyst to advise traders to exercise caution and closely monitor the market dynamics.

According to analyst @SenseiHov, the recent 30% selloff in PEPE’s price since the last update has brought the token within 9% of its target level.  Consequently, the trade has yielded approximately 338% gains from the entry point.

However, the analyst warns that the break of a specific trigger line, depicted in pink on the chart, could signal trend exhaustion.

PEPE Price Analysis

SenseiHov highlights the presence of bearish divergences, which. he previously discussed in a prior update. These divergences, coupled with the break of the trigger line, suggest that the upward momentum for PEPE may be waning. 

While the possibility of one final push towards the 0.02 area remains, the analyst cautions that any deeper move beyond the invalidation level could mark the top for this cycle.

Emphasizing the importance of prudent risk management, SenseiHov advises traders not to be overly greedy and to secure profits from the substantial gains already achieved. The analyst recommends focusing on the “meat and potatoes” of the move rather than chasing the “icing on the cake.” As the market awaits confirmation of the top, SenseiHov plans to update the chart with a potential swing level for spot trading opportunities.

New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW

Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!


Show more +

Read also: Shiba Inu Burn Rate Jumps 3,000% – SHIB ETF Petition Gains Traction

Market Data and Potential Scenarios

According to data from CoinGecko, the price of Pepe (PEPE) currently stands at $0.00001239, with a daily trading volume of $1,032,779,023.47. This represents a 2% price decline in the last 24 hours and a 12.61% decline over the past seven days. 

The analyst acknowledges the potential for one more push towards the 0.00002 area, despite the bearish signals. Indeed, it is common for prices to exhibit a final surge before the move concludes.

The crypto community eagerly awaits further developments and analysis from SenseiHov as the situation unfolds. Of course, you should closely monitor market conditions, and implement prudent risk management strategies to navigate the potential market shifts surrounding the Pepe token.

Join Aethir’s exclusive airdrop and earn badges by participating in events or holding community tokens. Complete tasks and secure your spot before the snapshot date is revealed!

Check $RECQ Meme Coin

Sponsored: Invest Responsibly, Do Your Own Research.
Serves as the base currency for all transactions within the Rebel Satoshi platform
ICO stage, offering tokens at a discounted price
Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade,
Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.


Samuel Munene
Samuel Munene

Samuel is a vesatile and seasoned content editor with a sharp eye for detail and a passion for writing. Web3 techonology is the future! With massive experience in the publishing industry, I specialize in refining and enhancing written material to ensure clarity, coherence, and engaging narratives.