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Whales are continuing to accumulate the PEPE meme coin despite a recent 57% drop from its all-time high, according to on-chain data service Lookonchain. Three whales acquired PEPE tokens during this week’s price drop, while other whales expressed doubts about the continuation of the meme coin rally. Analysts have warned that meme coins are a “game” of whales and small investors should be cautious. At press time, the PEPE price stood at $0.000001890, with key support at the 38.2% Fibonacci level at $0.000001808 and key resistance at $0.000002328 (50% Fibonacci).
This article originally appeared on www.newsbtc.com
Looking at the current trend in the crypto market, the price of Ethereum has risen sharply in recent times. The market is experiencing a bullish trend, which is good news for investors. However, as an investor, it is important to take into account the variations in price every time you invest. One of the popular strategies employed by many investors is the use of Short and Long PEPE options in their investment analysis.
So, what are Short and Long PEPE? These are strategies used by investors to predict the price movement of an asset. In simple terms, Short PEPE means betting against the asset prices while Long PEPE means betting with the asset prices.
When it comes to Ethereum, the trend seems to favor the Long PEPE option. This means that investors are betting that the price of Ethereum will keep rising. Many of the big players in the market, known as whales, seem to be favoring the Long PEPE option. These whales hold a significant amount of Ethereum, and their position in the market is carefully observed by smaller investors. So, if a large number of whales are betting on a Long PEPE option, it may well indicate a trend that smaller investors should take into account.
On the other hand, some investors use the Short PEPE option to bet against the rise of Ethereum prices. This strategy is employed when the market is exhibiting a bearish trend, and the investors want to take advantage of the falling prices. However, in the current market trends, most investors are putting their money on the Long PEPE option.
While the Long PEPE option seems like a safe bet at the moment, investors should always keep in mind the potential risks that come with any form of investment. Ethereum prices can be quite volatile, and the Long PEPE option could quickly turn sour if the market experiences a sudden dip in prices.
In summary, the current trend in the market favors Long PEPE, and many investors, including whales, are putting their money on this option to ride the upswing in Ethereum prices. However, as with any investment, it is important to carefully do your research and consider all the factors that could influence the market before putting your money down. With the right analysis, informed investors can achieve high returns by taking either a Long or Short PEPE option.
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