Dogecoin Is 'Primed For Higher' But Pepe Is 'On A Moon Mission,' Exclaims Trader

Max, founder of BecauseBitcoin, predicts more bullish price action for Pepe PEPE/USD and Dogecoin DOGE/USD.

What Happened: MaxBecauseBTC shared insights on the recent performance of Pepe and Doge in a tweet on Thursday, noting that Pepe, which has been on his radar since the fourth quarter of 2023, is performing as expected.

Pepe/Doge just made a new ATH! Overall, the $Pepe play that we've been riding & tracking since Q4, 2023 is playing out perfectly.

Why do we hold $Pepe?… because it pair trades well against $Doge. If your meme coin isn't outperforming the OG meme coin, there is no point in… pic.twitter.com/HFJbskey9c

— Max (@MaxBecauseBTC) May 2, 2024

He detailed his rationale for holding Pepe, stating that it trades well against Doge. He emphasized, "If your meme coin isn't outperforming the Original (OG) meme coin, there is no point in holding it. Doge is safer."

He also expressed optimism about Dogecoin, predicting it is poised for a "hold and rally" after its first high timeframe (HTF) pullback from a 500+ day bear market re-accumulation range. He sees Dogecoin “primed for higher,” suggesting that means Pepe is “on a moon mission.”

Also Read: ‘I’ll Buy Ethereum, Dogecoin, And Maybe Pepe…When I Think Bitcoin Has Bottomed,’ Says This Prominent Crypto Analyst

Why It Matters: While Dogecoin is down 28.3% month-over-month Pepe is up 5%. IntoTheBlock data shows a 23.7% surge in Pepe's large transaction volume in the past 24 hours, while daily active addresses increased by 9.9%. Dogecoin's large transaction volume decreased by 17.9%, while daily active addresses increased by 2.5%.

MaxBecauseBTC’s bullish stance on Pepe and Doge comes as these meme coins continue to gain traction in the crypto market.  

His tweet also underscores the importance of studying market trends and patterns. He urged his followers to study his Pepe chart, emphasizing the need for informed investment decisions in the volatile crypto market.

Price Action: At the time of writing, DOGE is trading at $0.1325, up 0.7% over the past 24 hours. PEPE is trading at $0.0000057623, up 2.5%.

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: ‘Dogecoin Millionaire’ Consoles Trader Who Lost $1M On PEPE Long: ‘I Lost $3M Before Bro And I’m Still Here’

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image: Shutterstock