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 action in 2021. 

PEPE Forming A ‘Big’ Bull Flag

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

Similarly, crypto analyst Chandler mentioned a bullish pennant that had formed on PEPE’s chart. This bullish pattern also indicates that the top meme coin will continue 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 just recently hit a new ATH on the back of Coinbase and Robinhood’s listing. At the time of writing, PEPE is trading at around $0.00002017, down over 4% in the last 24 hours, according to data from CoinMarketCap. 

Featured image created with Dall.E, chart from Tradingview.com

Crypto analyst CrediBULL Crypto has predicted that the XRP price can reach $20 in this market cycle. In his analysis, the analyst provided a detailed explanation of how XRP could enjoy such a parabolic rally and reach double digits.

How XRP Price Can Reach $20

In an X post, crypto analyst CrediBULL Crypto revealed how the XRP price could reach $20 based on an analysis of the XRP/BTC chart. His accompanying chart highlighted the $2 range as the area that XRP needs to flip as support to begin its rally to a new all-time high (ATH) and the $20 target.

CrediBULL Crypto stated that if XRP flips that red zone as support, the double digits will probably come quickly. He remarked that an XRP ATH against BTC is not a matter of if but when and that at the current Bitcoin price, a new ATH on XRP/BTC would easily lead to a parabolic rally to $20.

However, the crypto analyst called for patience while XRP attempts to clear this $2 level and begin its parabolic rally. He had earlier noted in his analysis that the red zone on the chart is a major resistance for the XRP price. However, he believes that XRP could still trend higher on the USD chart (between $1.5 and $2) while it attempts to break this $2 resistance on the Bitcoin chart.

Veteran trader Peter Brandt also recently provided a bullish outlook for XRP. Like CrediBULL Crypto’s analysis, the veteran trader said that XRP only needed to clear its 2021 high last $1.60 to begin its parabolic rally.

Price To At Least Touch $12

Crypto analyst Egrag Crypto provided a more conservative prediction as he stated that the XRP price could top around $12. The analyst also made this prediction based on his analysis of the XRP/BTC chart. In an X post, he stated that XRP/BTC has pumped right at the ‘Atlantic and Pacific line,’ which he claimed signals a bullish momentum.

The analyst further remarked that a weekly candle above $1 would flip a key resistance into support. He mentioned that the resistance target to keep an eye on is the range between $3 and $. A close above that this range set the stage for a “super bullish ride” for the XRP price, the analyst said.

In line with this, he asserted that this cycle’s ultimate goal is reaching the top edge around $12, a level that he said could redefine the game. Egrag Crypto recently predicted that this rally to $4 could happen soon seeing that CRP already reached its 2-year high as it broke above $1.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.