Popular analyst Ali Martinez does not expect much from memecoins at the moment and, according to the analyst, PEPE in particular does not look good at all at the moment. After losing a key support, Martinez says it’s possible PEPE drops 50 percent from here.

54 percent down

“Watch for a daily close outside the 0.00000793 – 0.00000664 range, as that could lead to a 54 percent decline for PEPE,” Martinez wrote.

At the time of writing, the PEPE price is trading at $0.00000495, which is of course also the result of Iran’s drone attack on Israel.

However, this does allow Martinez’s thesis to come true. If his prediction comes true, PEPE should drop from here to around $0.000003.

It is striking that memecoins are currently doing so poorly. Coinbase added perpetual futures for PEPE to its exchange platform on Thursday.

PEPE is not the only memecoin on Coinbase

By the way, PEPE is not the only memecoin on Coinbase with perpetual futures. Support was also recently rolled out for Sam Altman’s Worldcoin (WLD), a controversial project with a focus on identity.

For Worldcoin, the piece of identity lies in making an iris scan, which then forms the basis for an account on the blockchain.

For many people, this goes against the original ideas of Bitcoin. After all, Bitcoin was built to operate relatively anonymously. Worldcoin is of course completely at odds with this with its eyeball scan.

Therefore, among the purists there are few fans of the Worldcoin of Sam Altman, the CEO of OpenAI (the company behind ChatGPT).

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Source: https://newsbit.nl/analist-pepe-kan-vanaf-hier-nog-met-50-procent-dalen/

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