Saturday, June 22, 2024

Cryptocurrency Expert Foresees Meme Coin Pepe (PEPE) Embarking on a Parabolic Surge

A prominent cryptocurrency analyst, known by the pseudonym Kaleo, with a substantial following of 594,500 X users, has expressed a bullish outlook for Pepe (PEPE), a rival to Dogecoin (DOGE).

Kaleo believes that PEPE is primed for a significant upward move, reminiscent of the parabolic rally it experienced in May of the current year. However, before this anticipated surge, Kaleo expects a brief dip for PEPE, allowing it to retest a crucial high timeframe diagonal resistance as support. This potential dip is viewed as a likely scenario before the anticipated run-up.

According to Kaleo’s chart analysis, he predicts that Pepe’s price may temporarily decline to approximately $0.0000011 before it surges to around $0.0000019. This prediction is based on a market structure that Kaleo previously observed on PEPE’s five-minute chart, where the altcoin successfully overcame a diagonal resistance before embarking on a parabolic rally. The term “Manifesting this” suggests his confidence in this projection.

As of the current moment, Pepe (PEPE) is valued at $0.00000134. Additionally, Kaleo foresees that Dogecoin (DOGE) will outperform Bitcoin (DOGE/BTC) in the upcoming weeks. He describes DOGE as appearing “pretty, pretty solid.”

Kaleo’s chart analysis indicates a potential surge for the DOGE/BTC pair, with a projected value well above 0.000004 BTC (equivalent to $0.12) by the end of the month. At the time of writing, this pair is trading at 0.00000259 BTC, which is approximately worth $0.076.

Read Also: Portfolio Management: Constructing a Robust Crypto Investment Strategy

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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