A prominent crypto analyst, operating under the pseudonym Kaleo, has stirred attention by suggesting that Pepe (PEPE), a competitor to the popular cryptocurrency Dogecoin (DOGE), might be on the brink of an impressive upward surge.
With a sizeable follower base of 594,500 on the social media platform Twitter, Kaleo has voiced his belief that PEPE could be gearing up for a notable rally akin to the one observed in May of this year. However, the analyst anticipates a preliminary dip before the anticipated surge, a strategy he believes is aimed at retesting a high timeframe diagonal resistance as a new support level.
As Kaleo’s chart analysis illustrates, he envisions Pepe undergoing a swift decline to approximately $0.0000011 before it experiences a significant surge, likely around the $0.0000019 mark. This projection is grounded in Kaleo’s interpretation of a comparable market structure exhibited on PEPE’s five-minute chart, during which the altcoin overcame a diagonal resistance before embarking on a parabolic ascent.
Kaleo expressed his perspective succinctly, indicating his forecast by simply stating, “Manifesting this.”
At the time of composing this piece, Pepe (PEPE) is currently trading at a valuation of $0.00000134.
In addition to his insights on Pepe, Kaleo also ventured into the Dogecoin (DOGE) realm. He predicted that the preeminent memecoin would outperform Bitcoin (DOGE/BTC) in the upcoming weeks, implying a bullish trajectory for DOGE.
Based on Kaleo’s analysis, he envisions the DOGE/BTC pair soaring past 0.000004 BTC (approximately $0.12) by the month’s conclusion. Currently, the trading value for the pair stands at 0.00000259 BTC, equivalent to $0.076.
Kaleo’s viewpoints have garnered notable attention and interest within the crypto community, as his analyses often attract followers and traders who are keen to leverage his insights for potential gains. As the crypto market remains inherently dynamic and subject to rapid fluctuations, Kaleo’s predictions serve as a rallying point for those intrigued by the ongoing price movements and prospects of various digital assets.