Emily Walker
Max, the CEO and founder of Because BTC, has made headlines by announcing the sale of his Dogecoin (DOGE) assets to invest fully in Pepe tokens. This decision comes as Dogecoin’s value has plummeted by 9.8% from its recent peak.
Crypto Innovator Swaps DOGE for PEPE
In a recent post on X (formerly Twitter), Max informed his 52,200 followers about divesting all his Dogecoin holdings to shift his investment entirely to Pepe. He cited his decision was influenced by the technical analysis of DOGE.D and PEPE.D charts, which illustrate the market influence of both cryptocurrencies.
Max initially acquired Dogecoin when he noted a bullish trend, indicating potential growth for the meme cryptocurrency. He pointed out a significant rise in DOGE’s market dominance, achieving a 2.15% increase according to his analysis.
This rise in market dominance correlated with a recent surge in Dogecoin’s price, climbing from approximately $0.1 at the end of October to a peak of $0.4 in November. During this period, Dogecoin’s value skyrocketed over 80% within a week, marking the biggest gains since 2021.
Looking ahead, Max expressed optimism for Pepe, noting that a similar bullish trend is emerging on the PEPE.D chart. He contrasted this with Dogecoin’s recent performance, specifying that Pepe’s upward momentum is still developing.
With this anticipated price increase on the horizon, Max has heavily invested in Pepe following the closure of his Dogecoin position. He forecasts that Pepe could soon eclipse DOGE, referring to Pepe, currently priced at $0.000012, as the new leader in meme currencies.
Dogecoin Experiences 9% Drop
Following a staggering 233.47% increase in just a month, Dogecoin’s price has begun to unexpectedly decline. Data from CoinMarketCap indicates that DOGE has plummeted by 9.2% in a single day and continues to trend downward.
Not long ago, Dogecoin reached a high of $0.4 after a remarkable week of over 80% growth. Currently, its price has fallen to about $0.37, likely due to market fluctuations and investors taking profits.
Crypto analyst Ali Martinez pointed out in an X post that historically, when the MVRV (Market Value to Realized Value) exceeds 78%, it indicates a market peak for Dogecoin. He has forecast that the MVRV will adjust to 45.65% following the current price correction, suggesting there is more potential for Dogecoin to recover.