Monad Airdrop Portal Goes Live - Claim Your Tokens Before Official Launch

Monad throws open its airdrop gates - early participants scramble for position ahead of the main event.

The Countdown Begins

With the token launch looming, Monad's airdrop portal activation sends shockwaves through the crypto community. Eligible users now have a limited window to secure their allocations before the official trading frenzy begins.

Strategic Positioning

The timing couldn't be more calculated - opening claims just before the full launch creates maximum buzz while giving early supporters their due reward. It's the classic crypto dance of hype and distribution, performed with precision timing.

Market Implications

This pre-launch airdrop strategy typically fuels both excitement and volatility. As tokens hit wallets, expect the usual pattern of initial euphoria followed by the inevitable profit-taking - because in crypto, everyone loves free tokens until they have to decide whether to hold or fold.

Pepe Coin price has formed risky patterns

The daily time frame chart shows that the Pepe Price has been forming a risky pattern since April last year. It has formed a head-and-shoulders pattern, which is made up of a head, two shoulders, and a neckline.

Its head represents the all-time high of $0.000028, while the right and left shoulders were at $0.00001638. These shoulders were the highest points in March last year and on May 23.

The neckline was at $0.000005, the lowest swing in August last year and on March 12. The price target in an H&S is estimated by measuring the distance between the head and the neckline, which, in this case, is about 80%.

Measuring the same distance from the neckline brings the target price to $0.0000105, which is about 85% below the current level. This target is its lowest level since February last year. Also, it has formed a death cross pattern as the 50-day and 200-day moving averages crossed.

The bearish Pepe Coin price outlook will become invalid if it jumps above the shoulder section at $0.00001638.

Whales and smart money investors have dumped Pepe

The bearish PEPE price forecast likely explains why whales and smart money investors have continued selling their coins. Smart money investors now hold 1.67 trillion tokens, down by 47% in the last 30 days. 

Similarly, whales have dumped their tokens by over 22% in the last 30 days to 4.9 trillion. Public-figure investors have also scaled back their holdings by 16% to 92.54 billion tokens. These investors typically sell their assets when they anticipate them to plunge.

Pepe Coin price has also plunged as the correlation between ethereum (ETH) and its memecoins has waned. While Ethereum recently jumped to a record high, top memes on the ecosystem like Shiba Inu, Baby Doge Coin, and Floki have all plunged.