Emily Walker
Max Schwartzman, the CEO of Because Bitcoin, has expressed a positive perspective on PEPE, suggesting that it’s following a similar pattern to Dogecoin during the bull market of 2021.
PEPE’s Similarity to Dogecoin Price Movements
In a post on X, Max indicated that PEPE resembles Dogecoin in this market cycle due to how both have behaved as Bitcoin reaches a new all-time high. He stated that as Bitcoin climbs, altcoins, including PEPE, have begun to set higher lows.
Max shared that just like Dogecoin did in 2021, PEPE is currently experiencing a breakout while other altcoins are still testing their higher lows. He anticipates that PEPE’s upward movement is just beginning.
This isn’t the first time he has compared PEPE’s movements to Dogecoin’s. Last year, he noted similar trends between the two during 2020, predicting that PEPE would also see significant price gains this year if it continued on the same trajectory as DOGE.
When he made this forecast, PEPE had a market cap of $600 million; it has since soared to over $8 billion. With a remarkable year-to-date increase of 1,400%, PEPE has emerged as one of the top-performing cryptocurrencies. According to Max, the potential for PEPE’s rally to further escalate exists as the coin is expected to mimic Dogecoin’s price behavior from 2021.
Potential Bull Flags for PEPE
In a separate post on X, crypto analyst Crypto Zeus pointed out the formation of a notable bull flag for PEPE, suggesting that it might continue to rise after its current phase of consolidation. He believes PEPE will likely gain traction alongside Bitcoin reaching new highs.
Another analyst, Chandler, also mentioned a bullish pennant appearing on PEPE’s charts, indicating a likely upward trend. His analysis suggested that PEPE could potentially rise to $0.000038 in its next price movement.
Currently, PEPE appears to be consolidating after recently reaching a new all-time high, following its listings on Coinbase and Robinhood. As of now, PEPE trades at approximately $0.00002017, down more than 4% in the last day, according to CoinMarketCap.