- Milady Meme Coin and Pepe’s trading volume has slumped.
- Pepe has formed a falling wedge pattern, which is a bullish sign.
- Milady has just crossed a level, signaling more pain to come.
Pepe and Milady Meme Coin (LADYS) prices have pulled back in the past few days as their momentum fades. Pepe, one of the best-known meme coins, was trading at $0.0000015, where it has been at in the past few days. This price is about 65% below the highest level on record.
Milady Meme Coin, which I wrote about here, was trading at $0.000000076, which was also about 60% below the highest level on record. Other meme coins like Mrs Pepe, Keke, and Ben have also plunged as the momentum faded.
The two meme tokens have also seen their daily traded volume plunge. Data by CoinMarketCap shows that the volume of Pepe in the past 24 hours. While this is bigger than most cryptocurrencies, it is much lower than its all-time high of over $600 million. The same is true for LADYS, whose daily trading volume has plunged to just $28 million.
To be clear. The volume of most cryptocurrencies, including well-known coins like Bitcoin, Ethereum, and Solana has also plunged in the past few days. Bitcoin has moved below $27,000 while Ethereum has dropped below $1,800.
I strongly believe that investing in Pepe and Milady Meme Coin is a risky thing because of their lack of utility. Historically, many meme coins like Bonk and Tamadoge tend to do well in their initial days and then plunge to obscurity.
LADYS price prediction
The 30-minute chart shows that the Milady Meme Coin price has been in a bearish trend in the past few days. Most recently, it managed to crash below the key support at $0.000000080, the lowest point on May 16. This price was also the lower side of the descending triangle pattern.
LADYS price has also formed what looks like a bearish flag pattern while the overall volume has slumped. The Relative Strength Index has also continued dropping. Therefore, Milady Meme Coin price will likely have a bearish breakout as sellers target the next psychological level at $0.000000070.
Pepe price prediction
The 30-minute chart shows that Pepe price has been in a downward trend. It is consolidating at the 25-period moving average while the volume has slumped. Unlike Milady Meme Coin, Pepe has actually formed a bullish chart pattern. It has formed a falling wedge pattern, that is shown in black.
Therefore, while my long-term view of Pepe is bearish, there is a likelihood that it will have a bullish breakout in the coming days. If this happens, the next level to watch will be at $0.0000018.
