Max Schwartzman, the CEO of As a result of Bitcoin, has offered a bullish outlook for PEPE. He acknowledged that the meme coin is mirroring the Dogecoin value motion within the 2021 bull run and defined precisely how that is occurring.
How PEPE Is Mirroring The Dogecoin Worth
In an X put up, Max asserted that PEPE is the Dogecoin of this cycle due to the similarities between the previous and the Dogecoin value motion within the 2021 bull run. He defined that proper as Bitcoin is breaking its earlier cycle’s all-time excessive (ATH), altcoins are witnessing the next time-frame (HTF) greater low coupled with a PEPE.
The crypto founder revealed that this was the identical factor that occurred with the Dogecoin value in 2021. His accompanying chart confirmed that PEPE is replicating Dogecoin’s 2021 value motion because the meme coin has witnessed a breakout whereas others are retesting the upper lows. In step with this, Max predicts that PEPE goes a lot greater.
This isn’t the primary time the crypto founder has drawn similarities between PEPE and the Dogecoin value. Final yr, he talked about that PEPE’s value motion was just like Dogecoin in 2020. He additional predicted that the previous would get pleasure from a big value breakout this yr if it continued to reflect DOGE’s value motion.
When he made the prediction, PEPE’s market cap was $600 million. Since then, the highest meme coin has witnessed a parabolic rally and now boasts a market cap of over $8 billion. PEPE is without doubt one of the best-performing crypto belongings this yr, with a year-to-date (YTD) achieve of 1,400%. Nevertheless, based mostly on Max’s latest assertion, PEPE’s rally may simply be beginning with the meme coin set to copy the Dogecoin value motion in 2021.
PEPE Forming A ‘Large’ Bull Flag
In an X put up, Crypto analyst and dealer Crypto Zeus highlighted a possible ‘huge’ bull flag that was forming for PEPE. This bull flag signifies that the meme coin may proceed its upward development as soon as this consolidation section is over. The analyst additionally remarked that PEPE will doubtless rise greater because the Bitcoin value hits new highs.
Equally, crypto analyst Chandler talked about a bullish pennant that had fashioned on PEPE’s chart. This bullish sample additionally signifies that the highest meme coin will proceed its upward development quickly sufficient. The analyst’s accompanying chart confirmed that PEPE may rally to as excessive as $0.000038 on its subsequent leg up.
PEPE seems to be to be cooling off for now, having only recently hit a brand new ATH on the again of Coinbase and Robinhood’s itemizing. On the time of writing, PEPE is buying and selling at round $0.00002017, down over 4% within the final 24 hours, based on knowledge from CoinMarketCap.
Featured picture created with Dall.E, chart from Tradingview.com
