🐷Here is the update on $PORK, the pepe fork.
Despite the strong start in the beginning of the year, $PORK has not capitalized on the meme coin bull run in the past month. It is currently in a prolonged wave 2 with a triangle pattern. This is very normal for all popular meme coin as it is a fight between the bulls and bears.
🟩GREEN-This is the bullish path and suggests that the triangle wave 2 is done and $PORK is ready to rocket into wave 3. All $PORK fans are waiting for this path to take advantage of the recent meme coin bull run.
⬜️WHITE-This is a more conservative path suggesting more things needs to be worked out, furthering the triangle pattern, before the break out into wave 3.
🐷PINK-This is the bearish path suggesting that the descending triangle will lead to the downside. While a descending triangle can be bullish (in the prior two scenarios), the majority of the time, it is bearish. When there are multiple touches to the floor (support level), it generally breaks thru taking the floor to lower lows.
A CEX listing or a technology break-thru with the Pond ecosystem can lead to both Green and White. An absence of news during a prolonged period of time or any demoralizing events/incidents will lead to the Pink path. In a bull market, meme coin holders will not hesitate to jump off the ship for a shinier penny since there is opportunity cost for holding. I believe this is the current challenge for the $PORK devs and holders. They have to fight against time and the competition during the bull.
During the bear market in the absence of meme coin mania, this coin would be higher. But in the bull, the longer things take, the deeper the hole it digs.
🧐Here's an objective update on $PORK, the $PEPE fork
🐽Since $PORK temporarily flipped $PEPE to complete its wave 1, the momentum has not been consistent. $PORK remains in a dragged out wave 2 which now appears to be a triangle pattern that is being stretched out. When does this end? Its hard to say at the moment.
🟢GREEN-This is what the loyal holders are hoping for
⚪️WHITE-This is a prolonged triangle pattern taking weeks to complete.
🐷PINK-This is the disastrous path that majority of memecoin do end up having. A devastating wave 2 that kills any momentum upward.
⁉️A combination of things have left this coin in this prolonged holding pattern which we wont get into. Loyal holders may not admit these problems but outsiders looking in see the obvious.
💸However, I do believe some loyal holders of this coin are realizing the opportunity cost its causing them. In the past two weeks, many web3 enthusiast have performed in a few days what many waited for in the past year. When one stays stagnant or locked up, they are missing out on some massive gains.
🐸Since the PORK-PEPE flippening, $PEPE marched to a 10-14x return while the PEPE fork, $PORK, declined.. While $PORK holders are expecting similar or even greater returns, these window of opportunity do not open that often.
📈Will $PORK share the same fate as the most famous fork of all time, $BCH (Bitcoin Cash)? It too, had a very loud creator antagonist who liked to provoke and poke and, at one point, the coin seemed to be the early favorite to overtake $BTC and claimed to be the true bitcoin. Currently, Bitcoin cash remains at $450, with a all time high of. $2.8k, while Bitcoin approached $73k. Believe it or not, at one point, they were both $2k with $BCH flipping $BTC. -OR- will $PORK eventually be like $ETH replacing ethereum classic? At the current speed, the former appears to be the likely scenario.
🤔What do you think? and which route will $PORK take? 🟢GREEN, ⚪️WHITE OR 🐷PINK?
I literally crawled out of bed with my sleeping wife right next to me so I could publish this chart for you guys...
$Pepe is on the left & $Bonk is right. Most of my charts that I share with you all are in logarithmic mode. Bull market pumps create such exponential gains that its hard to even see the PA with a linear axis.
This chart is meant to illustrate the psychology of a meme coin going crazy. This is the early innings of a parabola, no doubt in my mind. I anticipate that $Pepe does something similar in terms of market structure & this is the beginning of the next leg upward.
Stay focused, stay humble, help others learn 🤝... oh and study Vin Diesel. Never turn your back on family.
Does @Pauly0x launch anymore meme coins?
IMO it would be a great idea right now….
With this market focused on memes.
It has potential for another huge win for the community??? 100-1000x+ short term
vs 2-10x short term $PORK, $PNDC