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- Crypto analyst Kaleo predicts that Pepe (PEPE) could rally further if it follows the pattern of a tech stock that boomed during the COVID pandemic.
- Pepe has recently hit a new all-time high, and Kaleo predicts that it could rally close to $0.000007 before reversing its trend.
Pepe Could Rally Further if it Continues to Follow a Pattern: Top Trader Predicts
Kaleo, a popular crypto analyst, suggests that Pepe, a well-known memecoin, may continue to rally if it follows the pattern of a tech stock that exploded during the COVID pandemic. Kaleo compares Pepe’s recent price action to Zoom’s in early 2020, when the tech stock surged over 800% in less than 12 months. He notes that Zoom traded below a diagonal resistance before its meteoric ascent, which is similar to Pepe’s current market structure on the lower timeframes.
Kaleo believes that Pepe has already broken through the diagonal resistance after reaching a new all-time high of $0.00000431. According to his charts, he predicts that Pepe could rally close to $0.000007 before topping out and reversing its trend. If Pepe reaches this target, there could be an upside potential of over 130%.
Pepe’s Recent Performance
Pepe is one of the hottest altcoins lately and is currently the 42nd-largest cryptocurrency by market cap. The memecoin has surged by over 5,330% from its all-time low of $0.000000055142, which it reached on April 18th.
It’s important to note that Kaleo’s prediction is just that – a prediction. The recent surge in Pepe’s price suggests that there may be more rallies in store for the memecoin. However, it’s important to remember that investing in cryptocurrencies, particularly memecoins, can be highly risky due to their volatile nature. Investors should always do their own research and consider the potential risks before making any investment decisions.
Conclusion
Pepe has been one of the hottest altcoins lately, and Kaleo predicts that it could rally further if it follows the pattern of a tech stock that boomed during the COVID pandemic. While it’s important to exercise caution when investing in cryptocurrencies, particularly memecoins, the recent surge in Pepe’s price suggests that there may be more rallies in store for the memecoin. As with any investment decision, investors should always do their own research and consider the potential risks before investing in cryptocurrencies.