New Crypto Prices Tend To Rise Drastically, Analysts Warn Beware

Liputan6.com, Jakarta The emergence of a new meme coin, PEPE Coin has been in the spotlight for the past few weeks as its price and market cap are growing rapidly.

Seeing the phenomenon of launching a new coin, Ajaib Kripto Financial Expert, Panji Yudha called on investors to remain cautious. According to Panji, newly emerging coins have high volatility compared to other more popular cryptocurrencies.

“New coins will decrease in price when they are listed on major exchanges. The new coin will initially be listed on a highly volatile Decentralized Exchange (DEX). At DEX, many people are more speculative,” explained Panji in the Ajaib Kripto webinar, Friday (19/5/2023).

Panji added that when there was news that the new coin would be listed on a major exchange, the price immediately dropped. This is what needs to be considered and be careful for those who want to trade new crypto coins.

Why Prices Can Drop Drastically?

Panji said that one of the reasons why the price of a new coin dropped drastically when it was listed on a large exchange was because traders started taking profits when the coin was listed on a large exchange.

“It’s easier to take profit on large exchanges and money can easily enter a trader’s bank account, unlike DEX, where the process of taking profit and withdrawing money is more complicated,” continued Panji.