Crypto analysts are calling for explosive price moves in two popular meme coins, PEPE and Dogecoin (DOGE), if specific bullish patterns play out on the charts.
Leading the charge is prominent analyst ZAYK Charts, who believes PEPE is primed for a meteoric rise of 80-100% if it can break out from its current bullish pennant pattern. A pennant is a continuation pattern that signals a period of contracting price volatility followed by a move in the prevailing direction.
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Show more +Show less –According to ZAYK’s chart analysis, a breakout from around the $0.000008 level could catapult PEPE’s price skyward in a powerful bullish wave. For the uninitiated, PEPE is a meme-inspired cryptocurrency that takes its name and branding from the controversial Pepe the Frog character.
Meanwhile, David Dogecoin, a respected voice in the Dogecoin community, sees startling similarities between the current Dogecoin chart setup and the token’s legendary 2021 bull run that sent its price soaring over 600% in just two days.
David points to what appears to be a rising wedge pattern forming on Dogecoin’s chart, which he cautions could be a “trap” before a massive breakout move. A rising wedge is a bearish pattern that begins wide at the bottom and contracts as prices rise, often resolving with a downward price break in an uptrend.
However, if the pattern fails and Dogecoin instead breaks out to the upside around the $0.20 level, David believes the meme coin could replicate its 2021 performance with a jaw-dropping spike to $0.60 in just 48 hours. Dogecoin is an open source cryptocurrency that was initially created as a lighthearted joke before gaining a cult following among investors.
As meme coins continue capturing the imagination of crypto traders, all eyes will be on PEPE and Dogecoin to see if the astounding rallies forecast by these analysts come to fruition.
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The post PEPE and Dogecoin (DOGE) to Spike Over 100%: One Last Bullish Trigger Remains for the Two Memecoins appeared first on CaptainAltcoin.
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