Don’t call it a conservative investment. Pepe (PEPE) token on Ethereum is a respectable financial advisor’s worst nightmare. The thing is entirely speculative, digital Internet currency secured by peer-to-peer networks with decentralized finance algorithms. Plus it’s got a creepy looking cartoon frog on it instead of a former U.S. president. So what gives?
But right-leaning meme coins, currencies with some political power and conservative cachet, have started to trend in June amid a wider market breakdown among meme coins. (That’s a good time to check out new Pepe meme coins like Pepe Unchained).
Pepe Coin has been on the hop, moving back up the chart after cryptocurrency prices corrected in June. PEPE recently tested resistance at the $0.000012 level Friday, failing to break out by Saturday evening U.S. Eastern Time.
Bullish: PEPE Cup And Handle Chart Pattern
But with a possible cup and handle pattern on PEPE’s chart, look for a potential breakout soon. According to Investopedia, “The cup and handle is considered a bullish signal, with the right-hand side of the pattern typically experiencing lower trading volume.”
Pepe has also managed to avoid some of the damage other cryptocurrencies have sustained as markets correct over the past seven days. Bitcoin price has corrected down nearly some five percent over the seven day window. Markets are waiting to see what Bitcoin price will do next before placing important bets on key altcoin currencies for the remainder of June.
Technical analysis and day trading genius John Bollinger recently piped in on the Bitcoin discussion to suggest the Bitcoin price is going to outer space. “I wish I could remember the maxim: The bigger the base the higher… Anyone?” Bollinger posted on X. “The bigger the base, the higher in space!” a commentator answered.
Memes are hurting much worse than the rest of the Web3 industry, with Dogecoin (DOGE) down 6%, Shiba Inu (SHIB) down 10%, and Floki Inu (FLOKI) down a staggering 27%. But Pepe has been doing better than most of the meme segment. The little frog just might be a prince with a weekly loss of only 2.5% against all its peers’ much stiffer losses this past week.
Meanwhile, with Pepe Coin moving up and to the right, Book of Meme (BOME)– another Pepe-themed meme currency– recently found support at the $0.00944 level. Meanwhile, Trump Coin (MAGA) is also testing a crucial support level.
Looking For “ETH Beta”
So the outlook from here is alright for these handy rightwing meme tokens, with potentially massive profits up ahead for bagholders who hold on for dear life through hazards such as higher-for-longer interest rates, geopolitical uncertainty, or regulatory ambiguity.
Describing Pepe Coin as a frog-themed memecoin, UnchainedCrypto recently noted that crypto market traders view PEPE as “ETH Beta.”
According to Google Gemini, a Beta greater than 1.0 indicates that “The stock is more volatile than the market, meaning it will generally increase and decrease more than the market. For example, if the S&P 500 increases by 1% in a day, a stock with a beta of 1.5 would also increase by 1.5%.”
In other words, when Ethereum price goes up, Pepe usually goes up by even more. The hazard is this works in reverse, so when Ethereum goes down, Pepe goes down by more.
But one way to bag a coin with potentially more Beta than Pepe is to look for new currencies in the presale stage— such as Pepe Unchained.
These currencies tend to provide more Beta when they launch because they start off with a smaller capitalization against the rest of the market. For investors looking for a leg up, these are the kind of gems worth hunting.
