Pepe Coin Runs an Expedited Version of Dogecoin (DOGE): Analyst Presents Two Scenarios for the Meme Coin
Release: 2024/03/13 17:49 Reading: 491
According to BecauseBitcoin CEO Max, Pepe is currently running an expedited version of Dogecoin’s price action from the previous market cycle. Max outlines two potential scenarios for Pepe’s future trajectory, both of which suggest significant upside potential.
Scenario 1: Skipping Leg 1 and Peaking at 35–50 Billion Market Cap
In the first scenario, Max suggests that Pepe may have skipped the initial leg of its price action and jumped straight into the second leg. This would imply that the token’s market capitalization could peak at around 35–50 billion dollars.
If this scenario plays out, it would represent a substantial increase from Pepe’s current valuation. However, it would also suggest that the token’s upside potential may be somewhat limited compared to the alternative scenario.
Scenario 2: Completing Leg 1 and Aiming for 100 Billion+ Valuation
The second scenario, which Max considers more bullish, proposes that Pepe has just completed the first leg of its price action and still has two more legs to go. This would imply that the token could significantly overshoot all of Max’s initial price targets and potentially reach a staggering valuation of over 100 billion dollars.
Such an outcome would cement Pepe’s position as one of the most successful meme coins in the history of cryptocurrency, rivaling the likes of Dogecoin and Shiba Inu at their peak.
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Show more +Coiling Price Action and Higher Timeframe Strength
Regardless of which scenario ultimately unfolds, Max emphasizes that Pepe’s higher timeframe (HTF) price action looks “fantastic.” This suggests that the token’s long-term trend remains intact and that further upside is likely, even if short-term volatility persists.
In a follow-up tweet, Max notes that Pepe is currently coiling on the lower timeframes, presenting an attractive setup for a potential breakout, especially if Ethereum (ETH) can maintain its strength. However, he also cautions that as Pepe’s price continues to climb, the hourly timeframes will become increasingly noisy and difficult to navigate due to the token’s extreme volatility.
Impressive Price Performance and Market Sentiment
Over the past 30 days, Pepe has demonstrated a 781.1% increase in value, showcasing the immense interest and demand surrounding the token. In the last 7 days, Pepe has gained 21.4%, and in the past 24 hours, the token has risen by 6.3%.
This consistent and impressive price performance has solidified Pepe’s position as one of the most talked-about and traded cryptocurrencies in the current market cycle. As the token continues to attract attention from both retail and institutional investors, market sentiment remains overwhelmingly bullish.
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The post Pepe Coin Runs an Expedited Version of Dogecoin (DOGE): Analyst Presents Two Scenarios for the Meme Coin appeared first on CaptainAltcoin.
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