The cryptocurrency market has been known for its volatile nature, with sudden price swings being common. Recently, there has been a surge in interest and investment in PEPE coin. However, according to Avorak AI analysis, the coin may be experiencing hyper over-extension, and a massive correction could be on the horizon.
What is PEPE coin?
PEPE coin is a new meme coin based on the famous Pepe the Frog meme. Meme coins are making a comeback after a crypto winter, with the hype surrounding them taking over completely. Even though the coin’s creators have stated that it has no intrinsic value and is purely for entertainment purposes, the PEPE coin ranked among the top 100 cryptocurrencies by market cap days after its launch.
PEPE coin was launched without methods such as ICOs or airdrops, relying solely on the widespread appeal of the Pepe meme to attract investors. This has worked since PEPE recently surpassed $1 billion in market cap. Binance and other famous exchanges also announced their listing plans, adding to the PEPE coin’s remarkable growth.
Is it too late to buy PEPE coin?
Despite its rapid surge, buying the PEPE coin is not too late. The coin is still new and has a supply of 420,690,000,000,000. However, some skeptics have raised concerns about the presence of so-called whales who own a large number of PEPE, increasing the risk of price manipulation. PEPE is also highly volatile, with no utility, and thus investors should exercise caution before buying. Investors are comparing the PEPE coin to other popular meme coins such as SHIB and DOGE, but it’s unclear whether it will have the same long-term success since many meme coins have been short-lived.
How can Avorak AI help?
Avorak is an AI crypto project that seeks to change our thoughts about trading. The Avorak trade bot’s AI algorithms can recognize trends and patterns faster than human traders. The bot predicts a massive correction in PEPE coin following hyper over-extension, meaning PEPE’s excessive increase in value might not be sustainable. Investors thus strive to grab pullback opportunities, as a more direct rally is unlikely until PEPE gains some other external news. The Avorak trade bot can offer price predictions with large sets of indicators to help traders and investors make better-informed decisions.
Avorak’s trading bot can quickly identify potential trading opportunities, alert traders of the changes, and automate trades on multiple exchanges on their behalf. Avorak AI can also help investors gauge market sentiment by analyzing social media posts and news articles, which is crucial in trading PEPE coin. Avorak’s trading bot works like a human trader and is capable of learning from user strategies and preferences, providing personalized trades and recommendations. This helps traders maximize their profits in an easy-to-use and fun environment.
The Avorak ecosystem hosts a wide range of AI solutions that can benefit traders and other users. For example, its chatbots can provide efficient and real-time answers to any queries users might have concerning the PEPE coin. Users will require the Avorak (AVRK) token to access these services. AVRK is selling at $0.235 in phase 6 of Avorak’s initial coin offering (ICO), with investors getting a 5% token bonus and other benefits. Analysts are constantly talking about Avorak’s potential for growth and its advantages over other cryptocurrencies and AI providers.
For more information on Avorak AI:-
Buy AVRK: https://invest.avorak.ai/register