Analyst predicts $PEPE Coin could follow $DOGE ’s rally in 2021!!!

Crypto analyst Waleed.Eth sees Pepe Coin showing similar patterns to Dogecoin’s explosive rally in 2021, hinting at a possible breakout for the meme coin. With the cryptocurrency market turning bullish and Bitcoin approaching an all-time high, meme coins could spark a high-momentum rally.

Pepe Coin’s 2021 rally DOGE-style?

Waleed.Eth noted that Pepe Coin’s recent price action resembles DOGE’s multi-year consolidation before its 29.100% surge to $0.73 in 2021. Over the past five months, Pepe has consolidated, losing 49.7% from its peak at $0.000017. As the market anticipates a potential bull rally fueled by Bitcoin’s strength and the 2024 US presidential election, Pepe could see a significant rally – possibly pushing PEPE’s price as high as $0.0025.

Growing Investor Confidence

According to data from Coinglass, Pepe Coin’s future open interest (OI) has increased by 182.3% from $60.5 million in early August to $170.8 million. This increase reflects growing investor confidence and speculative interest, signaling bullish sentiment for Pepe’s future.

PEPE Price Analysis: Possible Breakout

Currently trading at $0.0000086, PEPE is facing an intraday loss of 2.47%. Its market cap stands at $3.64 billion, with a 24-hour trading volume of $781.2 million, according to CoinGecko. If the selling pressure continues, PEPE could drop by 3.67%, reaching the support trendline in a symmetrical triangle pattern, potentially preparing for an upward breakout.

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