Pepe Coin Sliding ahead of Halving Event
Cryptocurrency memecoin Pepe (PEPE) is getting ready to halve in less than a month, and though anticipation for the event is building, the price is falling.
This has some investors worried who are expecting the coin to garner greater interest ahead of the halving and shoot up in value. This is typically what happens with halving, despite the poor performance of Bitcoin during its most recent halving event. That occurred last year, and despite analysts’ predictions that the coin will gain value, it actually lost value during the weeks surrounding halving.
The problem is not that the cryptocurrency industry is no longer interesting to investors. We saw the market skyrocket during November of last year. December and what we have seen of January, however, have been less kind to the market.
Pepe saw a sharp decline on Sunday as trading continued through the weekend. For Monday, the coin is down 10% and still falling. The price is at $0.00001608, which is not very promising for a coin that was considerably higher last week.
Pepe’s Pricing Trends
Recently, Pepe has been trending bearish, falling 23% in the last week. That looks about to change, however, as the coin was up by 2% early Monday morning. It is rising, but for how long? Could we be seeing another quick uptick before a downtrend? That has been Pepe’s behavior in recent weeks, but this uptick is a little bigger than most. It could indicate a change of course for the coin.
If the upward movement continues, analysts are likely to pile on about how the upcoming halving is going to be really good for Pepe, but it is too early to tell. We think that Pepe could rise much higher thanks to Donald Trump’s pro-crypto administration taking over the government and the upcoming halving, but there is no guarantee.
Investors should be cautious with this coin. While the crypto market is expected to do very well in the next few weeks, that is only speculation, and there is no telling how soon Trump will enact the promised pro-crypto framework he has been discussing.
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