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 action in the 2021 bull run and explained exactly how this is happening. 

How PEPE Is Mirroring The Dogecoin Price

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

The crypto founder revealed that this was the same thing that happened with the Dogecoin price in 2021. His accompanying chart showed that PEPE is replicating Dogecoin’s 2021 price action as the meme coin has witnessed a breakout while others are retesting the higher lows. In line with this, Max predicts that PEPE is going so much higher. 

This isn’t the first time the crypto founder has drawn similarities between PEPE and the Dogecoin price. Last year, he mentioned that PEPE’s price action was similar to Dogecoin in 2020. He further predicted that the former would enjoy a significant price breakout this year if it continued to mirror DOGE’s price action. 

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

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Author: Scott Matherson