Pepe's Retail Appetite Chases Shiba Inu, With 309% Increase In Revolut Customer Holdings: Trader Sees 'A Mini Bull Flag'
Portfolio Pulse from Khyathi Dalal
Revolut's customers have significantly increased their holdings in Pepe (PEPE), surpassing Ethereum (ETH) in total holdings. PEPE's price is down 1.3% despite a 309% increase in holdings and a 1,700% increase in dollar value. Shiba Inu (SHIB) also saw growth, with a 23% increase in tokens and a 300% increase in dollar value. Large transaction volumes for PEPE have grown by 11.2%, and 71% of PEPE holders remain in profit despite a 15.5% price drop over the past month. Traders are optimistic about PEPE's potential for a breakout.
April 30, 2024 | 12:10 pm
News sentiment analysis
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NEGATIVE IMPACT
Ethereum (ETH) has been surpassed by PEPE in total holdings among Revolut customers, indicating a shift in retail investor interest towards meme coins.
The fact that PEPE has surpassed ETH in terms of total holdings among Revolut customers suggests a notable shift in retail investor interest away from established cryptocurrencies like Ethereum towards meme coins, potentially impacting ETH's short-term appeal.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
PEPE's significant increase in Revolut customer holdings and optimistic trader outlooks suggest potential for short-term price recovery despite a recent 1.3% drop.
The substantial increase in PEPE holdings among Revolut customers, coupled with positive sentiment from traders and an overall bullish outlook despite a short-term price drop, suggests a strong potential for price recovery in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Shiba Inu (SHIB) holdings among Revolut customers have grown, indicating continued interest in meme coins alongside PEPE.
The growth in SHIB holdings among Revolut customers, although more modest compared to PEPE, still indicates a healthy interest in meme coins, suggesting a positive outlook for SHIB in the short term.
CONFIDENCE 65
IMPORTANCE 50
RELEVANCE 60