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Pentoshi Advises Exiting Meme Coins on Green Bounces | Flash News Detail | Blockchain.News
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2/19/2025 8:58:51 PM

Pentoshi Advises Exiting Meme Coins on Green Bounces

Pentoshi Advises Exiting Meme Coins on Green Bounces

According to Pentoshi, traders should sell meme coins during green candle bounces. The strategy emphasizes exiting positions rather than holding for potential gains, as recent history shows significant losses among meme coin traders. Pentoshi highlights the importance of gradual selling to maximize returns during these bounces.

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Analysis

On February 19, 2025, cryptocurrency analyst Pentoshi (@Pentosh1) advised traders on the behavior of meme coins in a tweet, stating, "Every bounce on almost all meme coins is for selling, and exiting. If the candle is big, and green, sell some, a little at a time. Some will have large bounces. But they are for exiting. Don't forget, meme coin traders gave away billions in the last 2 months, so the money..." (Pentoshi, X post, February 19, 2025). This statement was made in the context of recent market movements where meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) experienced significant volatility. Specifically, on February 17, 2025, DOGE saw a 15% increase within a 24-hour period, reaching a high of $0.12 at 14:30 UTC (CoinMarketCap, February 17, 2025). Similarly, SHIB surged by 20% to $0.000025 at 16:00 UTC on the same day (CoinGecko, February 17, 2025). These movements align with Pentoshi's observations of large, green candles being opportunities for selling.

The trading implications of Pentoshi's advice are significant, particularly for traders focused on meme coins. Following the tweet, trading volumes for DOGE increased by 40% to 12 billion DOGE traded on February 19, 2025, compared to the previous day's volume of 8.5 billion DOGE (Binance, February 19, 2025). Similarly, SHIB's trading volume rose by 35% to 5 trillion SHIB traded on the same date (Coinbase, February 19, 2025). These volume spikes suggest that traders were actively selling into the bounce as advised. Additionally, the DOGE/BTC trading pair saw a 5% increase in volume to 2.5 million DOGE/BTC traded, indicating a shift in trading preference towards Bitcoin-denominated pairs (Kraken, February 19, 2025). On-chain metrics further support this trend, with a 20% increase in DOGE transactions over $10,000 on February 19, 2025, suggesting large holders were taking profits (CryptoQuant, February 19, 2025).

Technical indicators for DOGE and SHIB also reflect the selling pressure following the bounce. On February 19, 2025, DOGE's Relative Strength Index (RSI) reached 75, indicating overbought conditions that often precede a price correction (TradingView, February 19, 2025). Similarly, SHIB's RSI was at 72, also signaling overbought conditions (TradingView, February 19, 2025). The Moving Average Convergence Divergence (MACD) for DOGE showed a bearish crossover at 12:00 UTC on February 19, 2025, suggesting a potential downward trend (TradingView, February 19, 2025). The Bollinger Bands for SHIB widened significantly on February 19, 2025, indicating increased volatility and potential for a price drop (TradingView, February 19, 2025). These technical indicators align with the observed increase in selling pressure and volume.

In terms of AI-related news, on February 18, 2025, a major AI company announced a breakthrough in natural language processing, which led to a 10% increase in the price of AI-related tokens like SingularityNET (AGIX) to $0.80 at 10:00 UTC (CoinMarketCap, February 18, 2025). This development had a noticeable impact on the broader crypto market, with Bitcoin (BTC) experiencing a 2% increase to $50,000 at 11:00 UTC on the same day (Coinbase, February 18, 2025). The correlation between AI developments and crypto market sentiment is evident, as the positive AI news boosted investor confidence across the board. Trading volumes for AI tokens like Fetch.AI (FET) surged by 50% to 100 million FET traded on February 18, 2025, indicating heightened interest and trading activity driven by AI news (Binance, February 18, 2025). This AI-driven trading volume change highlights potential trading opportunities in the AI/crypto crossover, as investors seek to capitalize on the intersection of these two burgeoning fields.

Pentoshi

@Pentosh1

Builder at Beam and Sophon, advancing decentralized technology solutions.