Max, the proactive founder and Chief Executive Officer (CEO) of the crypto-centric enterprise, Because BTC, has recently made headlines with his bold move to offload his holdings in Dogecoin (DOGE) and transition into Pepe tokens. This strategic decision emerged amidst a notable downturn in Dogecoin’s valuation, which has plummeted by 9.8% from its previous peak.
Crypto Founder Dumps DOGE For PEPE
In a revealing post on X (formerly known as Twitter), Max informed his 52,200 followers about his decision to liquidate all of his Dogecoin assets, opting instead to fully invest in Pepe. This unexpected pivot was driven by Max’s in-depth technical analysis of the DOGE.D and PEPE.D charts, which illustrate the market dominance of Dogecoin and Pepe, respectively.
Max initially invested in Dogecoin after identifying a promising bullish pattern in its chart, which at the time highlighted a substantial growth potential for the meme coin. The DOGE.D chart showed an impressive upward momentum, indicating a 2.15% increase in Dogecoin’s market dominance. This surge coincided with a recent spike in Dogecoin’s price, which saw the coin leap from around $0.1 at the end of October to as high as $0.4 in November. Such gains, reminiscent of the 2021 rally, saw Dogecoin’s value soar by over 80% within just a week.
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Max’s Bullish Outlook for Pepe
Looking forward, Max has expressed a similar optimistic outlook for Pepe. He noted that the bullish pattern previously observed in Dogecoin is now emerging for Pepe on the PEPE.D chart. Unlike Dogecoin, which has already experienced a price increase, Pepe’s bullish momentum appears to be lagging by a few weeks.
Anticipating a forthcoming price surge, Max has made a substantial investment in Pepe, closing his long position in Dogecoin. He confidently predicts that Pepe could soon overshadow Dogecoin as the leading meme coin. Max has even crowned Pepe, with its current trading price at $0.000012, as the new sovereign in the realm of meme coins.
Dogecoin Price Sees 9% Decline
Despite experiencing a staggering 233.47% increase within a month, Dogecoin’s price is currently witnessing an unexpected decline. According to data from CoinMarketCap, Dogecoin has dropped by 9.2% in a single day and seems to be caught in a persistent downtrend.
Recently, this cryptocurrency reached a high of $0.4, following an impressive 80% surge in just one week. However, the price has now fallen to $0.37, which could be attributed to market volatility and profit-taking by investors.
Market Analysis and Future Projections
In an insightful post on X, crypto analyst Ali Martinez highlighted that historically, when the Market Value to Realized Value (MVRV) ratio surpasses 78%, it often signals a market peak for Dogecoin’s price. Martinez forecasts that the MVRV will reset to 45.65% following the current price correction, potentially paving the way for Dogecoin to climb higher.
Meanwhile, the PEPE price remains robust, indicating a promising trajectory for investors looking to capitalize on the next big meme coin in the cryptocurrency market.
