Closely followed anonymous crypto analyst Bluntz claimed to his followers on social media platform X that Ethereum (ETH)-based memecoin PEPE (PEPE) is preparing for a major price increase. The analyst said that PEPE’s two-hour chart is reminiscent of the price movements made by Bitcoin (BTC) at its lows around $16,000 in January 2023.
PEPE Could Rise Like Bitcoin Did
When Bluntz examined the PEPE chart, he said, “I felt like I had seen this before. Yes, it was when BTC bottomed at $16,000,” and pointed out that PEPE created a similar bottom formation. After bottoming in January 2023, Bitcoin rose by over 360 percent in 15 months, reaching an all-time high of $73,737 in March 2024, breaking the record.
At the time of writing, Bitcoin is trading at around $64,000, while PEPE is priced at $0.00000906. Bluntz stated that PEPE could have similar bullish potential.
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