Coincidence or Alert? Two Things Call Back What Happened Before 5.19 Market Crash

There's nothing hotter than $PEPE in the crypto market now, with its hype peaked after Binance announced listing yesterday. The market cap of $PEPE went north of $1.75 billion at one point, and its 24H volume is the third largest, only after Bitcoin and Ether. However, in the middle of the craze, Binance's listing $PEPE could well be a reminder for people to be alerted to what's next.

Two years ago, on May 10th, 2021, Binance announced listing of Meme Coin $SHIB. The hype didn't drive the bull to go further. On the contrary, three days later, Bitcoin dropped below $50,000, with the market suddenly turning bearish. On May 19th, one of the most terrifying crashes in the crypto market happened. Over the next two months, the market was under the shadow of pessimism.

If this single sign is not enough for you to be cautious, what about a second one? Today, the Ethereum Foundation deposited 15,000 $ETH into Kraken. It's not common that the Ethereum Foundation moves a large amount of funds, but when it does, it often makes a splash. On May 17th, 2021, two days prior to the market crash, the Ethereum Foundation transferred more than 35,000 $ETH to Kraken. And the rest is history.

Now, the two things happen at the same time again. It doesn't necessarily mean that another bear will come, for sure, but it also doesn't hurt to shake off FOMO and be careful.

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