Crypto Analyst Says Outsized Move Down in Sight for Memecoins PEPE and WIF – Here Are His Targets
A crypto strategist is warning meme tokens Pepe (PEPE) and dogwifhat (WIF) are now in prime spots to witness deep corrective moves. Pseudonymous trader Credible Crypto tells his 425,900 followers on the social media platform X that he’s leaning bearish on PEPE. According to the analyst, the current PEPE rally will lose steam, setting the stage for a collapse below $0.00000570. “HTF (high time frame) distribution takes time. After bouncing off of our range lows, we are now back at the range highs and once again struggling to clear them – likely leading to another deviation and failure. The next leg down on BTC should give us an outsized move down on PEPE as well. I’m short.” Source: Credible Crypto/X At time of writing, PEPE is trading for $0.000011, up over 13% in the past day but still close to Credible Crypto’s range high zone. Turning to fellow memecoin WIF, the trader says the altcoin is flashing a bearish setup at its range highs. “Patiently waited o