PEPE Is Mirroring The Dogecoin Price Breakout Of 2021, Here’s How

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As an analyst with over two decades of experience in the financial markets, I have seen my fair share of market trends and patterns. However, the recent parallels between PEPE and Dogecoin’s price action in 2021 have piqued my interest. Max Schwartzman, the CEO of Because Bitcoin, has a proven track record of making accurate predictions, and his latest bullish outlook for PEPE is certainly worth considering.

Max Schwartzman, head of Because Bitcoin, presents an optimistic forecast regarding the meme coin PEPE. He claims that PEPE is following a similar pattern to Dogecoin during the 2021 bull market, and he elaborates on the specific ways this is occurring.

How PEPE Is Mirroring The Dogecoin Price

In a recent post, Max suggested that PEPE resembles the role of Dogecoin in this market cycle due to the parallels between its behavior and Dogecoin’s price action during the 2021 bull run. He elaborated by stating that as Bitcoin surpasses its previous record high (ATH), altcoins like PEPE are experiencing a higher time frame (HTF) lower low, which is typically followed by an increase in value.

The creator of cryptocurrency noted that the situation with PEPE’s price this year mirrors what occurred with Dogecoin in 2021. A chart accompanying his statement demonstrated that PEPE is mimicking Dogecoin’s 2021 price trend, as the meme coin has experienced a surge while other coins are testing higher lows again. As such, Max anticipates that PEPE will climb significantly more.

Previously, the creator of cryptocurrency has noticed parallels between the price trends of PEPE and Dogecoin from last year. Specifically, he pointed out that PEPE’s movements were reminiscent of Dogecoin in 2020. He then forecasted that if this resemblance continued, PEPE could see a substantial price surge this year.

Initially when the prediction was made, PEPE’s total market value stood at $600 million. Since that time, this leading meme coin has experienced a dramatic surge and now boasts a market cap exceeding $8 billion. PEPE is among the top-performing cryptocurrencies in 2021, with an impressive year-to-date (YTD) growth of 1,400%. Yet according to Max’s latest comments, it appears that PEPE’s upward trend may still be in its early stages, as there’s speculation that the meme coin could follow a similar trajectory to Dogecoin in 2021.

PEPE Forming A ‘Big’ Bull Flag

In a recent post on X, the crypto expert known as Crypto Zeus pointed out a possible significant ‘bull flag’ forming in PEPE. This bull flag suggests that the meme coin could resume its upward trajectory once the current consolidation period ends. Additionally, the analyst suggested that PEPE might climb even higher as Bitcoin reaches new price peaks.

Analogously, crypto expert Chandler pointed out a bullish pennant pattern appearing on the PEPE graph. This optimistic shape suggests that the popular meme coin PEPE is likely to keep rising in value in the near future. The analyst’s illustration further hinted at potential gains for PEPE reaching up to $0.000038 during its next growth spurt.

It appears that PEPE has temporarily cooled down following its recent all-time high, which was boosted by the listing on Coinbase and Robinhood. As I write this, PEPE is trading at approximately $0.00002017, representing a decrease of more than 4% in the past 24 hours, as indicated by data from CoinMarketCap.

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2024-11-20 01:11