Max Schwartzman, the CEO of Because Bitcoin, has expressed an optimistic perspective on the future of PEPE. The CEO likens the trajectory of this meme coin to the remarkable price movement experienced by Dogecoin during the 2021 bull run. Let’s delve into how PEPE is charting a similar path.
The Parallels Between PEPE and Dogecoin
In a recent post on platform X, Max Schwartzman elaborated on his belief that PEPE is the Dogecoin of this current cycle. He highlighted the striking resemblances between PEPE and Dogecoin’s performance during the 2021 bull market. As Bitcoin surges past its previous cycle’s all-time high (ATH), altcoins, including PEPE, are establishing higher lows on a higher time frame (HTF).
This pattern is reminiscent of Dogecoin’s price action two years ago. Schwartzman’s chart illustrates that PEPE is mirroring the breakout pattern of Dogecoin while other cryptocurrencies are merely retesting their higher lows. Based on these observations, Max anticipates a substantial upward trajectory for PEPE.
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This isn’t Schwartzman’s first comparison of PEPE to Dogecoin. Last year, he noted that PEPE’s price movement mirrored Dogecoin’s performance in 2020. He foresaw a significant price surge for PEPE if this trend persisted. At that time, PEPE’s market cap was at $600 million. Following a parabolic rise, the meme coin now boasts a market cap exceeding $8 billion, marking it as one of the top-performing crypto assets this year with a year-to-date (YTD) increase of 1,400%. According to Max’s latest insights, PEPE’s bull run may only just be beginning, as it seems poised to replicate Dogecoin’s 2021 success.
PEPE’s Potential Bullish Patterns
Crypto analyst and trader Crypto Zeus recently put forth an analysis suggesting the formation of a substantial ‘bull flag’ for PEPE. This pattern indicates that PEPE could maintain its upward trend once the current consolidation phase concludes. Zeus also pointed out that PEPE’s price could ascend further as Bitcoin continues to reach new heights.
Similarly, another crypto analyst, Chandler, identified a bullish pennant on PEPE’s chart. This pattern suggests that PEPE might soon resume its upward momentum. Chandler’s accompanying analysis projects that PEPE could rally to as much as $0.000038 in its next upward move.
Currently, PEPE appears to be taking a breather after reaching a new ATH, partly driven by its recent listings on Coinbase and Robinhood. At the time of writing, PEPE trades around $0.00002017, having dropped over 4% in the past 24 hours, according to CoinMarketCap data.
As DOGE approaches a price of $0.4, the market eagerly watches to see if PEPE can truly follow in its footsteps and solidify its position as a dominant meme coin.
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