harsh_14
7 Following
15 Followers
56 Liked
3 Shared
Don't sell your #pi coin for a low price of $1 or other wait till 20th February for #PiMainetLaunch it will be of great value. Do not let any one scam you and use legit platform to sell.
Meme Coins: A Fun Trend or a Risky Gamble?
Introduction
Meme coins are a unique type of cryptocurrency that originated as jokes but quickly gained massive popularity. Unlike traditional cryptocurrencies focused on technology and utility, meme coins thrive on internet culture, social media trends, and community hype.
$DOGE , created in 2013 as a parody of $BTC , became a multi-billion-dollar asset thanks to online communities and celebrity endorsements like Elon Musk’s tweets. Since then, other meme coins like $SHIB ,#PEPE , and #flok h
Meme coins are a unique type of cryptocurrency that originated as jokes but quickly gained massive popularity. Unlike traditional cryptocurrencies focused on technology and utility, meme coins thrive on internet culture, social media trends, and community hype.
$DOGE , created in 2013 as a parody of $BTC , became a multi-billion-dollar asset thanks to online communities and celebrity endorsements like Elon Musk’s tweets. Since then, other meme coins like $SHIB ,#PEPE , and #flok h
PNUT/USDT#Pnut $PNUT
1. Overall Trend (Downward Bias)
The price has been making lower highs and lower lows, which is a classic sign of a downtrend.
The short-term moving averages (e.g., MA(7) and MA(25)) are above the current price and sloping downward, reinforcing a bearish (downward) trend.
2. Moving Averages
MA(7) vs. MA(25): Both are close together (0.157 vs. 0.158 in the screenshot) and trending downward. When shorter MAs are below longer MAs (or when both slope down), it often signals persistent selling pressure.
Longer MA (e.g., MA(99) or MA(30)): The purple line appears to be around 0.1761 (hard to read precisely), also above the current price. This suggests that both short- and long-term momentum are pointing downward.
3. Potential Support Levels
There’s a noticeable price level around 0.1331 (the low on the screenshot). If the price approaches that area again, watch how volume behaves—heavy selling could break it, while strong buying could form a short-term support.
If 0.1331 fails to hold, you might look further back on the chart (not fully visible here) for any prior pivot points.
4. Volume Patterns
The volume bars at the bottom show a few spikes, suggesting there have been periods of heavier trading activity. Generally, strong volume spikes during a price drop can mean capitulation (a rush of selling). Conversely, if a bounce occurs on strong volume, it could signal a potential short-term reversal.
Overall volume doesn’t appear to be consistently high at the moment—if volume remains low, it can be harder for price to reverse direction decisively.
5. Watching for a Reversal
In a downtrend, a first sign of strength is often a higher low on the chart, coupled with a break above a short-term moving average.
You might also look at indicators (e.g., RSI, MACD—though they’re not visible in this screenshot) to see if there’s any bullish divergence forming (price making lower lows while the indicator makes higher lows).
1. Overall Trend (Downward Bias)
The price has been making lower highs and lower lows, which is a classic sign of a downtrend.
The short-term moving averages (e.g., MA(7) and MA(25)) are above the current price and sloping downward, reinforcing a bearish (downward) trend.
2. Moving Averages
MA(7) vs. MA(25): Both are close together (0.157 vs. 0.158 in the screenshot) and trending downward. When shorter MAs are below longer MAs (or when both slope down), it often signals persistent selling pressure.
Longer MA (e.g., MA(99) or MA(30)): The purple line appears to be around 0.1761 (hard to read precisely), also above the current price. This suggests that both short- and long-term momentum are pointing downward.
3. Potential Support Levels
There’s a noticeable price level around 0.1331 (the low on the screenshot). If the price approaches that area again, watch how volume behaves—heavy selling could break it, while strong buying could form a short-term support.
If 0.1331 fails to hold, you might look further back on the chart (not fully visible here) for any prior pivot points.
4. Volume Patterns
The volume bars at the bottom show a few spikes, suggesting there have been periods of heavier trading activity. Generally, strong volume spikes during a price drop can mean capitulation (a rush of selling). Conversely, if a bounce occurs on strong volume, it could signal a potential short-term reversal.
Overall volume doesn’t appear to be consistently high at the moment—if volume remains low, it can be harder for price to reverse direction decisively.
5. Watching for a Reversal
In a downtrend, a first sign of strength is often a higher low on the chart, coupled with a break above a short-term moving average.
You might also look at indicators (e.g., RSI, MACD—though they’re not visible in this screenshot) to see if there’s any bullish divergence forming (price making lower lows while the indicator makes higher lows).
Login to explore more contents