Some crypto market observers believe that the price action of memecoin PEPE could indicate an impending pullback in Bitcoin. Ran Neuner, co-founder of Onchain Capital, suggests that when PEPE experiences a pump, it’s a sign that the market is overheated and it’s time to exit. However, skeptics argue that the recent uptick in PEPE’s price is driven by bullish news and not necessarily indicative of broader market confidence. They suggest looking at other cryptocurrencies like Solana (SOL) as potentially more reliable predictors. Overall, opinions on using PEPE as a metric for Bitcoin’s price movements vary, with some believing it’s too new to have lasting value as an indicator.
