A widely followed cryptocurrency trader highlighted the so-called “Cycle of Regret” phenomenon on Tuesday, in which traders selling Pepe (CRYPTO: PEPE) in the ongoing corrective phase will struggle to reenter the market at the right time.
What happened: Chandler, a holder of PEPE themselves, predicted that 99% of the traders cashing out of the frog-themed meme coin won’t buy it back at a discount.
“They’ll panic, wait for a better entry, then freeze when it dips further. And in the end? They’ll FOMO back in higher than they sold,” the trader added.
Chandler also drew attention to the possibility that those selling PEPE now won’t buy it back at all and will instead wait for the next bear market for a better opportunity. They humorously described this behavior as the “Cycle of Regret.”
The trader compared the indecision to that of Bitcoin (CRYPTO: BTC) investors, who get stuck owing to the “It’s already too late to buy back” mindset.
See Also: US Could Sell Its Gold To Set Up Potential Bitcoin Reserve, Says Bernstein: Will It Ignite A ‘Global Race’ To Buy BTC?
Why It Matters: Chandler has been a long-time PEPE advocate, preferring the Ethereum (CRYPTO: ETH)–based meme coin over celebrity-backed tokens that have sparked controversy in recent weeks.
Interestingly, PEPE’s official website describes the coin as “completely useless,” with no intrinsic value or roadmap for the future.
That said, the coin has built a loyal community of backers since its launch in May 2023 and was the third-biggest meme coin behind Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB), touching a valuation of $3.9 billion.
In the last 24 hours, PEPE balance held by long-term holders increased by 0.21%, according to IntoTheBlock, suggesting a motive to accumulate. Moreover, the 41% jump in large transactions signaled increased activity from whale investors.
Price Action: At the time of writing, PEPE was exchanging hands at $0.000009328, down 1% in the last 24 hours, according to data from Benzinga Pro.
Photo by Morrowind on Shutterstock
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