The Rise of Pepe: Memecoin Set to Double in Market Cap, Predicts Analyst
A trader known for making timely crypto market calls believes that one surging memecoin is on track to more than double its valuation. Early last week, pseudonymous analyst Hsaka shared his bullish outlook on frog-themed memecoin Pepe (PEPE) with his 554,600 followers on the social media platform X, predicting that it will surpass its rival Shiba Inu (SHIB) in market cap.
At the time of the prediction, PEPE held the 28th spot in terms of crypto market cap. Since then, the Ethereum (ETH)-based memecoin has experienced a remarkable rally, surging by approximately 71% in just a few days. Hsaka even shared a chart demonstrating how PEPE has surpassed six other crypto assets in market cap rankings.
“Update: the climb to the top continues.”
Other crypto analysts share Hsaka’s optimism for PEPE. Kaleo, with 640,600 followers on X, also predicts significant gains for PEPE, drawing parallels to the performance of SHIB and Dogecoin (DOGE) in previous cycles.
“PEPE is only at a $6 billion market cap. DOGE hit a max market cap of $75 billion last cycle, and SHIB hit nearly $50 billion. I think it’s safe to say there’s still plenty of upside for the frog.”
As of the latest update, PEPE is currently valued at $0.0000152, showing a 7% increase in the past 24 hours.
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