Cryptocurrency analyst Viktor shared his bullish views on the latest trending memecoin PEPE.
In a recent statement, he compared PEPE to Dogecoin, the biggest memecoin of the mainstream.
He suggested that PEPE had a much easier way than Dogecoin to achieve a 10x increase in market value. To do this, DOGE needs to reach a market cap of $100 billion, while PEPE only needs to reach $6 billion, he said.
He also noted some other factors that favor PEPE over DOGE:
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PEPE outperformed most coins during the last Bitcoin pump after the ETF news.
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DOGE was losing value against Bitcoin even during the best period for altcoins in January-February 23. (acknowledging that DOGE has been showing some signs of improvement lately)
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PEPE has fewer coin holders, which means less selling pressure, and is likely to soon enter the best-case price discovery process for a coin.
However, another analyst, Tree, voiced his bearish views on PEPE. According to the analyst, the hype on PEPE is decreasing day by day, and with each passing day, the probability of PEPE experiencing a big rise is weakening.
*Not investment advice.