Pro-XRP lawyer John Deaton has dropped his opinions on PEPE while the viral meme coin\u2019s investors brood over its massive price plunge.<\/p>\n
The Pepe the Frog-themed meme coin became prominent immediately after launch, rallying 1,000% within the first two days.<\/p>\n
Pepe\u2019s performance and increasing popularity secured it a listing on Binance, further pushing its price by over 200%.\u00a0However, some investors were uncomfortable with the sudden price surge and have been asking questions.\u00a0<\/p>\n
Pepe coin\u2019s explosive price actions moved the crypto industry. Bullish investors leveraged the coin\u2019s growing popularity to accumulate more, while others appear to seek opinions from industry figureheads.\u00a0<\/p>\n
Related Reading: Shiba Inu Coin Holders Hit Hard As 80% Of Addresses Smothered In Red<\/a><\/p>\n In a\u00a0tweet<\/a>, John Deaton revealed that he received several DMs and emails from people requesting his thoughts on PEPE. Deaton retweeted DeFi analyst Chris Blec\u2019s opinion on Pepe. <\/p>\n In Blec\u2019s tweet<\/a>, the analyst warned people that Pepe is a carefully planned scam in which the creators use investors as pawns in a much bigger game.<\/p>\n In his words, such games have consumed the lives of many. He, however, advised investors to wise up. Deaton retweeting Chris Blec\u2019s comment regarding Pepe as his response to people raised some questions.\u00a0<\/p>\n Did the lawyer investigate before arriving at this conclusion, or did he trust Blec\u2019s words for what it is?<\/p>\n The crypto community reacted to Deaton\u2019s opinion, some in support while others disagreed. A Twitter user @StanzaErick<\/a> said he doesn\u2019t understand why people should ask a lawyer for investment guidance.<\/p>\n Another respondent Mark Hawkes, a pro-XRP crypto enthusiast, agreed<\/a> with Deaton that projects like Pepe could wreck retail investors.<\/p>\n Meanwhile, the meme coin isn\u2019t doing well at the moment. The token\u2019s price has gone the opposite of the bullish performances recorded two weeks ago.<\/p>\n It has lost most of its 7-day price gain over the past few days. The data shows the meme coin is down 38.46% over the past seven days. That\u2019s not all. Pepe favored the bears for most of last week, with a 31.3% price<\/a> decline on May 9.\u00a0<\/p>\n Related Reading: Ethereum Loses Grip On $1,800: Will The Bulls Barge In To Save The Day?<\/a><\/p>\n On May 12, it registered a 26.9% price decline before adding a 22.9% price gain on the 13th and 9.1% on the 14th.<\/p>\n Staying true to form, Pepe\u2019s price<\/a> has declined by a further 10.4% in the last 24 hours, with the technical indicators<\/a>, including the Oscillators and Moving Averages, flagging strong sell signals.<\/p>\n Pepe is currently trading below the 10-day exponential and simple moving averages, an indicator that the bears are in control.\u00a0The possibility of the meme coin rebounding from the dump depends on the bulls\u2019 ability to overturn the situation.<\/p>\n Featured image from Pexels and chart from TradingView<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Pro-XRP lawyer John Deaton has dropped his opinions on PEPE while the viral meme coin\u2019s investors brood over its massive price plunge.<\/p>\n The Pepe the Frog-themed meme coin became prominent immediately after launch, rallying 1,000% within the first two days.<\/p>\n Pepe\u2019s performance and increasing popularity secured it a listing on Binance, further pushing its price by over 200%.\u00a0However, some investors were uncomfortable with the sudden price surge and have been asking questions.\u00a0<\/p>\n Pepe coin\u2019s explosive price actions moved the crypto industry. Bullish investors leveraged the coin\u2019s growing popularity to accumulate more, while others appear to seek opinions from industry figureheads.\u00a0<\/p>\n Related Reading: Shiba Inu Coin Holders Hit Hard As 80% Of Addresses Smothered In Red<\/a><\/p>\n In a\u00a0tweet<\/a>, John Deaton revealed that he received several DMs and emails from people requesting his thoughts on PEPE. Deaton retweeted DeFi analyst Chris Blec\u2019s opinion on Pepe. <\/p>\n In Blec\u2019s tweet<\/a>, the analyst warned people that Pepe is a carefully planned scam in which the creators use investors as pawns in a much bigger game.<\/p>\n In his words, such games have consumed the lives of many. He, however, advised investors to wise up. Deaton retweeting Chris Blec\u2019s comment regarding Pepe as his response to people raised some questions.\u00a0<\/p>\n Did the lawyer investigate before arriving at this conclusion, or did he trust Blec\u2019s words for what it is?<\/p>\n The crypto community reacted to Deaton\u2019s opinion, some in support while others disagreed. A Twitter user @StanzaErick<\/a> said he doesn\u2019t understand why people should ask a lawyer for investment guidance.<\/p>\n Another respondent Mark Hawkes, a pro-XRP crypto enthusiast, agreed<\/a> with Deaton that projects like Pepe could wreck retail investors.<\/p>\n Meanwhile, the meme coin isn\u2019t doing well at the moment. The token\u2019s price has gone the opposite of the bullish performances recorded two weeks ago.<\/p>\n It has lost most of its 7-day price gain over the past few days. The data shows the meme coin is down 38.46% over the past seven days. That\u2019s not all. Pepe favored the bears for most of last week, with a 31.3% price<\/a> decline on May 9.\u00a0<\/p>\n Related Reading: Ethereum Loses Grip On $1,800: Will The Bulls Barge In To Save The Day?<\/a><\/p>\n On May 12, it registered a 26.9% price decline before adding a 22.9% price gain on the 13th and 9.1% on the 14th.<\/p>\n Staying true to form, Pepe\u2019s price<\/a> has declined by a further 10.4% in the last 24 hours, with the technical indicators<\/a>, including the Oscillators and Moving Averages, flagging strong sell signals.<\/p>\n Pepe is currently trading below the 10-day exponential and simple moving averages, an indicator that the bears are in control.\u00a0The possibility of the meme coin rebounding from the dump depends on the bulls\u2019 ability to overturn the situation.<\/p>\n Featured image from Pexels and chart from TradingView<\/p>\n <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-24080","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24080","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=24080"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24080\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24080"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The Current Price Outlook<\/h2>\n
Deaton Suggests PEPE Is A Calculated Scam<\/h2>\n
The Current Price Outlook<\/h2>\n