PEPE Is Mirroring The Dogecoin Price Breakout Of 2021, Here's How

Max Schwartzman, the CEO of Because Bitcoin, has provided a bullish outlook for PEPE. He stated that the meme coin is mirroring the Dogecoin price motion within the 2021 bull run and explained exactly how this is going on.

How PEPE Is Mirroring The Dogecoin Price

In an X post, Max asserted that PEPE is the Dogecoin of this cycle due to the similarities between the previous and the Dogecoin price motion within the 2021 bull run. He explained that right as Bitcoin is breaking its previous cycle’s all-time high (ATH), altcoins are witnessing the next time-frame (HTF) higher low coupled with a PEPE.

Source: X

The crypto founder revealed that this was the identical thing that happened with the Dogecoin price in 2021. His accompanying chart showed that PEPE is replicating Dogecoin’s 2021 price motion because the meme coin has witnessed a breakout while others are retesting the upper lows. In step with this, Max predicts that PEPE goes a lot higher.

This isn’t the primary time the crypto founder has drawn similarities between PEPE and the Dogecoin price. Last 12 months, he mentioned that PEPE’s price motion was much like Dogecoin in 2020. He further predicted that the previous would enjoy a big price breakout this 12 months if it continued to mirror DOGE’s price motion.

When he made the prediction, PEPE’s market cap was $600 million. Since then, the highest meme coin has witnessed a parabolic rally and now boasts a market cap of over $8 billion. PEPE is considered one of the best-performing crypto assets this 12 months, with a year-to-date (YTD) gain of 1,400%. Nonetheless, based on Max’s recent statement, PEPE’s rally might just be starting with the meme coin set to copy the Dogecoin price motion in 2021.

PEPE Forming A ‘Big’ Bull Flag

In an X post, Crypto analyst and trader Crypto Zeus highlighted a possible ‘big’ bull flag that was forming for PEPE. This bull flag indicates that the meme coin could proceed its upward trend once this consolidation phase is over. The analyst also remarked that PEPE will likely rise higher because the Bitcoin price hits latest highs.

Similarly, crypto analyst Chandler mentioned a bullish pennant that had formed on PEPE’s chart. This bullish pattern also indicates that the highest meme coin will proceed its upward trend soon enough. The analyst’s accompanying chart showed that PEPE could rally to as high as $0.000038 on its next leg up.

PEPE looks to be cooling off for now, having only in the near past hit a latest ATH on the back of Coinbase and Robinhood’s listing. On the time of writing, PEPE is trading at around $0.00002017, down over 4% within the last 24 hours, in accordance with data from CoinMarketCap.