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Warning: Meme Coins PEPE and FLOKI Rally, Market Correction Expected

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Meme coins PEPE and FLOKI have experienced significant price rallies, but analysts warn of a potential market correction. Crypto analyst Ran Neuner points out that the surge in meme coin values often precedes a general market pullback. PEPE's historical performance supports this observation. Currently, PEPE's price is above the upper band of its Bollinger Bands indicator, indicating a possible price reversal in the coming days.

In the last week, meme coins PEPE and FLOKI have seen the most rally in price. However, analysts have warned that the sudden growth in the values of meme coins is often followed by a general market correction.meme coins have led the rally in the cryptocurrency market over the past week, both climbing by over 80%, data fromHowever, in a recent post on X , crypto analyst Ran Neuner warned that this could be a sign of an upcoming pullback in the general market..

Typically, when an asset’s price climbs above the upper band of this metric, it suggests that the asset is overbought. It means that the price has rallied significantly above its average, and traders often interpret such movement as a potential reversal signal; hence they begin to dump in anticipation.Momentum indicators were also pegged at overbought highs at the time of writing. PEPE’s Relative Strength Index and Money Flow Index were 71.57 and 84.32, respectively.

Further, meme coins are notorious for their severe price fluctuations over little periods of time. An assessment of a few volatility markers on the PEPE’s daily chart revealed that its price was prone to volatility. This indicator measures the difference between an asset’s high and low prices over a specified period. Generally, when the Chaikin Volatility indicator rallies to return higher values, it signals great price movements and potential volatility.

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