The Great God said: PEPE makes a stunning reversal to reach a new high, while dog-themed tokens are all falling

When water is full, it overflows; when the moon is full, it wanes; self-satisfaction leads to failure; self-importance leads to foolishness. Those who avoid reality will find the future even less ideal. The market cleanses itself, and only the strong remain impressive. The market is ever-changing, and going against the mainstream has become the norm. When many people are bearish, the bulls may be about to arrive. The rapid switching between long and short positions always catches people off guard; the shift in strength and weakness happens in an instant.

With the news of the Ethereum spot ETF passing in the early hours of May 24, Bitcoin and Ethereum experienced a brief rise before starting to fluctuate downwards. Similarly, the Meme coin sector followed Ethereum's lead, breaking upwards before also beginning to fluctuate downwards.

It is worth mentioning that PEPE, which has been hitting new highs this week, did not fear the market downturn and once again refreshed its historical high, breaking through 0.000015 on Friday. However, selling pressure emerged afterward, and as of the time of writing, it has fallen back to 0.00001479, down 1.2% in the last 48 hours.

On the other hand, due to the news of Doge's original Kabosu passing away on Friday, dog-themed coins collectively fell. The top five dog-themed coins by market capitalization all showed declines in the last 48 hours, with WIF dropping 7.1% and BONK falling 7.4%, the largest declines among them.

PEPE Four-Hour Chart

Currently, PEPE's price has experienced an increase but carries the risk of a short-term pullback. The MACD shows that bullish strength is building but has not yet fully taken over. The Bollinger Bands indicate increased market volatility, and attention should be paid to price fluctuations between the middle band (0.00001448) and the upper band (0.0000156). The KDJ suggests there may be some pullback pressure in the short term. If the price can stabilize at the middle band of the Bollinger Bands, and the KDJ shows a golden cross, then there is room for further price increases. If the price breaks below the middle band, caution should be taken against the risk of a pullback.

WIF Four-Hour Chart

Currently, WIF is in an upward trend, but the upward momentum has weakened, and there may be adjustments in the short term. If the price continues to operate near the upper band of the Bollinger Bands and momentum strengthens, the upward trend may continue. Attention should be paid to the sustainability of the MA golden cross, the changes in MACD momentum, and the performance of KDJ in the overbought region.

BONK Four-Hour Chart

Currently, BONK's price is generally in an upward trend, but there are signs of consolidation in the short term. The MACD shows that bearish momentum has weakened but has not yet fully converted to bullish. The KDJ three-line values are in the mid-range, indicating that there will be some adjustments in the short term. The Bollinger Bands show low price volatility, and attention should be paid to the operation of the middle band (0.0000346). In the short term, one can wait for the price to pull back to near the middle band of the Bollinger Bands to consider entering long positions.

Instead of giving you a 100% accurate suggestion, it is better to provide you with the correct mindset and trend. After all, teaching a person to fish is better than giving them fish; advice may help you earn temporarily, but learning the mindset will help you earn for a lifetime! What matters is the mindset, grasping the trend, and planning the market layout and positions. What I can do is use my practical experience to help everyone, guiding your investment decisions and management in the right direction.

Writing time: (2024-05-26, 15:00)