Pepe the Frog-Themed Token Likened to Dogecoin, Predicted to Hit $100B Valuation

A widely followed cryptocurrency commentator made a bold prediction about the potential of the frog-themed token Pepe PEPE/USD on Sunday, likening its structure to that of Dogecoin DOGE/USD during the 2021 bull market.

A cryptocurrency commentator with a large following on social media has predicted that the frog-themed token Pepe (PEPE/USD) could reach a market valuation of $100 billion in its first cycle.

The commentator, known as Iyx, drew a parallel between PEPE’s chart structure and that of Dogecoin (DOGE/USD) during the 2021 bull market.

“$PEPE is building a $DOGE like structure just before it exploded to 90b mc but on a higher time frame which means the potential of the next $PEPE leg is truly almost unlimited,” Iyx said in a post on Sunday.

The commentator said that the potential of PEPE’s next move is “unlimited,” adding that Bitcoin reaching $150,000 will infuse significant liquidity in the market, enabling “massive” pumps for top-tier coins like PEPE.

“I can see $PEPE being the first meme to hit 100b valuation on his first cycle from this analysis. It might sound crazy but zoom out and look at the structure yourself.”

Iyx further noted that PEPE might be preparing for a “final dump” before it begins its next leg up.

“$PEPE might be preparing for a final dump before the next leg up, but I’m not sure. It depends on how quickly people realize what’s happening. But the way I see it, when BTC hits 150k, the amount of money in the crypto market will skyrocket.”

Meanwhile, another well-known cryptocurrency analyst, Max Schwartzman, shared a custom pair chart for PEPE, showing the accumulation of the coin by whales and retail investors.

The analysis indicated a negative relationship between the accumulation by whales and the price. This meant that large investors were aggressively stocking up on PEPE, while retail investors were selling the tokens.

“I created a very interesting custom pair chart for $PEPE that I think gives a tremendous amount of high time frame signal,” Schwartzman said in a post on Sunday.

“The black line is a ratio showing (% of Tokens Held by Whales➗% of Tokens Held by Retail). More simply put… Black Line Up = Whales Accumulating, down = retail.”

Schwartzman’s analysis also showed that PEPE might be due for a “final drop” before it begins its next leg.

“This is showing that throughout the entire PEPE bull market, large investors have been accumulating non-stop,” the analyst added.

“The only times the price went down was when retail sold their bags. It’s almost like the large investors knew about the PEPE pump before anyone else and were front-running the masses into the token.”

At the time of writing, PEPE was exchanging hands at $0.000009025, down 5.45% in the last 24 hours, according to data from Benzinga Pro.

Over the last month, the coin has seen a sell-off of nearly 40%. PEPE’s Bull Bear Power indicator, which measures the strength of buyers and sellers in the market, was “Neutral,” while the Momentum indicator flashed a "Sell" signal, according to TradingView.