PEPE is the Crypto to Watch for Market Trend, Analyst Suggests

As the crypto market heats up, investors wonder how long it will last, but a prominent crypto analyst has identified a promising sign.

One of the most popular memecoins, PEPE, serves as a market indicator, according to crypto analyst Ran Nunner.

PEPE is a good indicator, says crypto analyst

Many crypto investors struggle to identify which cryptos are good market indicators. However, for investors who want to wait for a “return”, crypto analyst Ran Nunner highlights to closely monitor PEPE.

“It's definitely an indicator when the market is hot. When people are confident enough to go there and it flows, that's your cue to get out. It always works,” Newner said.

Over the past 7 days, PEPE has risen approximately 112%. At the time of printing, the current price is about $0.00000123.

One X user commented that the rapid growth of memecoins like PEPE could be a good indicator that the market is heating up.

“These tokens are often associated with speculative and meme-based sentiment, and when they experience a rapid and exaggerated price increase, it can be used as an indicator that the market is overheating,” X user said.

PEPE time can help an investor to exit the market.

Another X user commented that it can help you time your exit in a similarly heated market.

“Great advice! Tracking PEPE will help you time your exit in a hot market. Don't miss the cues – stay alert and trade smart,” said user X.

On October 25, BeInCrypto reported that the meme coin market had seen a renewed revival last week. In addition, the price of PEPE is constantly increasing.

Meanwhile, uncertainty has been pointed out as to how long the upward trend will last.

On the other hand, PEPE has no clear use cases beyond speculative trading, meaning that the value of the token is only affected by online incentives.