An analyst who rode the 2023 crypto breakout thinks that memecoin Pepe (PEPE<\/a>) is headed to much lower levels.<\/p>\n Pseudonymous analyst DonAlt tells his 553,800 followers on the social media platform X that PEPE appears to have made a false breakout to new all-time highs before sellers pushed the price below its range high of $0.000009959.<\/p>\n In technical analysis, a false breakout is often seen as a bearish sign, suggesting that sellers are overwhelming demand.<\/p>\n Says DonAlt,<\/p>\n \u201cFell below the previous highs. For now, that looks like a false breakout. As long as that\u2019s not reclaimed, that\u2019s a bearish chart. If reclaimed, that\u2019d be quite bullish but only then.\u201d\u00a0<\/em><\/p>\n Based on the trader\u2019s chart, the next support level for PEPE appears to be at $0.0000065. At time of writing, PEPE is worth $0.0000090.<\/p>\n As for fellow memecoin dogwifhat (WIF<\/a>), DonAlt says the altcoin is bearish unless it recovers a key price level.<\/p>\n \u201cAlmost back to range low. Looks very bad still. Would look better above $2.77 or below $2.\u201d\u00a0<\/em><\/p>\n At time of writing, WIF is trading at $2.68.<\/p>\n Looking at the broader memecoin market, DonAlt believes that coins in the altcoin sector will witness<\/a> massive devaluations based on data from previous cycles.<\/p>\n \u201cIf I\u2019m right, the popular memes we trade today will trade 80%+ lower. Then you\u2019ll have new memes come up that build new communities that run up. And we\u2019ll have the same discussions in a couple of years\u2026<\/em><\/p>\n Why am I saying that? Because we\u2019ve gone through this exact scenario a hundred times in crypto history already. If the meme top isn\u2019t in, it will be eventually. And then you\u2019ll get a 90% nuke on all of them, even the most \u2018blue chip\u2019 memes (lol) that exist. It repeats every cycle.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: Midjourney<\/span><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" An analyst who rode the 2023 crypto breakout thinks that memecoin Pepe (PEPE) is headed to much lower levels. Pseudonymous analyst DonAlt tells his 553,800 followers on the social media platform X that PEPE appears to have made a false breakout to new all-time highs before sellers pushed the price below its range high of […]<\/p>\n","protected":false},"author":2,"featured_media":113341,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-305598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/305598","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=305598"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/305598\/revisions"}],"predecessor-version":[{"id":305614,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/305598\/revisions\/305614"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/113341"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=305598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=305598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=305598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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