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HomeCrypto NewsMarketPEPE Social Mentions Surpass BTC & ETH But Top Trader Identifies Shorting Opportunity

PEPE Social Mentions Surpass BTC & ETH But Top Trader Identifies Shorting Opportunity


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Pepe Token generates 6.09M social mentions, surpassing Bitcoin and Ethereum combined, while traders caution resistance levels as shorting opportunities.

The recently launched meme crypto Pepe Token (PEPE) continues to garner investors’ interest, as data suggests it has surpassed the combined social media mentions of Bitcoin (BTC) and Ethereum (ETH) over the past month. 

According to LunarCrush, a leading social analytics platform for cryptocurrencies, PEPE has garnered an impressive 6.09 million social mentions in the past 30 days, eclipsing the mentions of the top two leading digital assets.

The firstborn crypto Bitcoin recorded 3.06 million mentions during the same period. Ethereum, the world’s second-largest crypto asset, trailed behind with 2.88 million mentions, reflecting its substantial presence in the digital currency space.

While Pepe Token may not have gained the same level of notoriety as Bitcoin or Ethereum, its remarkable rise in social mentions demonstrates the growing interest and engagement from enthusiasts and investors.

PEPE Shorting Opportunity 

It is important to note that social media activity alone does not necessarily equate to fundamental value or market performance. Prominent trader Michaël van de Poppe recently shared a cautionary analysis suggesting that resistance levels on the token’s chart could present shorting opportunities despite the increased social activity.

According to van de Poppe, the PEPE chart reflects a continued downtrend, implying that every block of resistance could potentially be an area to short the market. He specifically highlights the $0.0000016 resistance level as an area of interest for potential shorting opportunities. 

The market analyst suggests that it would be preferable to see the token reclaim this level for traders considering long positions. However, if the resistance remains intact, he advises shorting the token until it reaches the support levels at $0.00000147, $0.00000115, or even as low as $0.00000085.

Experts Think PEPE Will Rug Pull

Recently, TheCryptoBasic published a list of analysts and crypto lawyers who believe the PEPE coin is a scam despite the token’s extraordinary growth within a short while. These include Chris Blec, DeFi Watch Founder; John Deaton CryptoLaw Founder and a pro-XRP attorney; and Yassin Mobarak, Founder of Dizer Capital.

Per data from Coin Market Cap, PEPE now ranks third largest meme coin with a crypto market share of over half a billion dollars despite being launched just last month. PEPE is currently trading for $0.0000016, up 2.15% in the past 24 hours.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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