PEPE is still giving investors profit even though it has risen significantly for the last couple of days.
However, in the short run, there might be some volatility here and there which might give the holders losses as well.
The price movement of PEPE is somewhat predictable as the token usually goes down after a huge price gain, which is caused by short term traders, capitalizing on their profit.
Some notable movements can be seen on the weekend, where usually PEPE will go down before going up again if the market remains positive.
Weekend Price Analysis of PEPE
Oddly enough, there is a pattern during the weekend where PEPE usually goes down, giving investors and traders a chance to accumulate.
Looking at the weekends in the last month, it can be seen that there is a pattern where the price movement usually goes down during the weekend.
In the first weekend of March 2024, the price of PEPE went down but not by much, where the price came back again on Monday.
The same thing happened again in the second week of March 2024, where the price went down even more this time but luckily with a recovery in the second half of the week, just like the week prior to that.
In the third weekend of March 2024, the price also went down, but this time, it recovered on Tuesday which evidently made the pattern more solid in March.
There will be a probability that the same thing will happen again, where currently, there is a lot of negative narrative around it, which might support the price to go down this weekend.
The Reason Behind it
While some speculate that the price went down because of the negative sentiments around it, the price correction on weekends is a common thing in crypto.
With the larger market capitalization of cryptocurrencies, price usually goes down because most institutional traders close their positions on Friday to prepare for the weekend.
This is because, while the market is open on weekends, those institutional traders use the weekend as a day off from the market, which is why they need to close their position, especially when they are in profit.
With smaller market capitalization of cryptocurrencies, usually the price goes down because retail traders use the funds as their fuel for their activities on the weekend, especially when talking about meme coin traders.
Looking at social media, usually there are a lot of meme coin traders that show off their profit on the weekend by partying using the profit they made from those meme coins.
While this cannot be confirmed exactly, the trend started going around, especially on Twitter and Discord, which prompted a new trend of weekends having lower volume and usually corrections.
This is a great trend to follow if you are a retail trader trading meme coins, because by following the trend, usually you will have a more steady profit rather than trying to go against the market, essentially with a mindset of go big or go home.
The trend that is talked about here means that you should take profit before the weekend and try to buy in before weekday start, so that you can capitalize on the movement of the market where volumes are usually bigger on weekdays.
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