Crypto Analyst Predicts Parabola Run for Memecoin Pepe (PEPE) and Updates Outlook on Dogecoin (DOGE)
A widely-regarded crypto analyst believes that Dogecoin (DOGE) competitor Pepe (PEPE) is preparing for a steep climb to the upside.
Pseudonymous analyst Kaleo tells his 594,500 X-followers that PEPE is likely preparing for a parabolic rally to levels last seen in May of this year.
However, before the explosive price surge, Kaleo expects PEPE to take a quick decline to retest a high diagonal resistance on the timeframe as support.
“At this point it seems the more likely path is to see a modest decline before bouncing back up.”
Source: Kaleo/X
Looking at the trader’s chart, he seems to be predicting that Pepe will drop to around $0.0000011 before rallying to around $0.0000019.
Kaleo’s prediction appears to be based on a similar market structure he saw on PEPE’s five-minute chart, where the altcoin broke through diagonal resistance before experiencing a parabolic surge.
“Manifest this.”
Source: Kaleo/X
At the time of writing, PEPE is worth $0.00000134.
As for Dogecoin, Kaleo predicts that the top memecoin will outperform Bitcoin (DOGE/BTC) in the coming weeks.
“DOGE still looks pretty, pretty solid.”
Source: Kaleo/X
Based on the chart, it looks like Kaleo expects DOGE/BTC to rally well above 0.000004 BTC ($0.12) by the end of the month. At the time of writing, the pair is trading at 0.00000259 BTC worth $0.076.
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