Pro-XRP Advocate PEPE Shares Explosion Opinion, What Did He Say?

Pro-XRP advocate John Deaton has dropped his opinion on PEPE, while investors in Viral Meme Coin are worried about its massive price drop.

The Pepe the Frog-themed meme became prominent immediately after coin launch, rallying 1,000% within the first two days.

Pepe’s performance and growing popularity led to its listing on Binance, which increased its price by over 200%. However, some investors were uneasy with the sudden price hike and were asking questions.

Deaton suggests PEPE is a calculated scam

The explosive price action of Pepe Coin shifted the crypto industry. Bullish investors have taken advantage of the coin’s growing popularity to accumulate more, while others appear to seek opinion from industry leaders.

Related Reading: Shiba Inu Coin Holders Were Hit Hard As 80% Of Addresses Were Suppressed In The Red

one in doJohn Deaton revealed that he received many DMs and emails from people requesting their thoughts on PEPE. Deaton retweeted DeFi analyst Chris Blec’s opinion on Pepe.

in blake doThe analyst warned the public that Pepe is a carefully planned scam in which the creators use investors as pawns in a much larger game.

In his words, such games have claimed many lives. However, he advised investors to be careful. Retweeting Chris Blake’s comment about Pepe, Deaton posed some questions to people as to his response.

Did the lawyer investigate before reaching this conclusion, or did he believe Blake’s word for what it was?

The crypto community reacted to Deaton’s opinion, with some in support while others disagreed. a twitter user @StanzaErick He said he does not understand why people should ask lawyers for investment guidance.

Another respondent Mark Hawkes, a pro-XRP crypto enthusiast, Agreed With Deaton that projects like Pepe could ruin retail investors.

Present Value Outlook

Meanwhile, Mim Coin is not doing well at the moment. The coin’s price has turned in reverse to the bullish performance it recorded two weeks ago.

It has lost most of its 7 days price gains in the last few days. statistics Mem coin is down 38.46% in the last seven days. He is not everything. Pepe favored the Bears for most of last week, a 31.3% price fall on may 9

Related Reading: Ethereum Loses Grip at $1,800: Will the Bulls Come to the Market to Save the Day?

On May 12, it recorded a 26.9% price drop before adding a 22.9% price gain on May 13.th and 9.1% at 14th,

stay true to make, price of pepe Has lost another 10.4% in the last 24 hours technical indicatorsFlagging strong sell signals, including oscillators and moving averages.

Pepe is currently trading below the 10-day exponential and simple moving averages, an indicator that the bears are in control. The probability of meme coin reversal from dump depends on the ability of the bulls to reverse the position.

Featured Image from Pexels and Chart from TradingView