Tony, the founder of NFT project JRNY Club, one of the recognized experts in the cryptocurrency market, suggested that the popular altcoin project PEPE of recent days may have a SHIB-like rise! Here are the details…
“Popular altcoin PEPE may experience SHIB-like astronomical rise!”
The crypto money market experienced a rise that it has not seen for a long time with PEPE. The popular meme coin has experienced an astronomical rise since its release, attracting the attention of investors. However, PEPE faced a lot of resistance in its rally the past day and has fallen by as much as 25 percent in the last 24 hours. Despite this bearish trend, some major investors believe the PEPE rally is far from over. Tony JRNY, the founder of the NFT project JRNY Club, which has 782 thousand Twitter followers, is the latest person to make this claim. Commenting on Twitter, Tony explained that once PEPE finds support during the downturn, it will start using the dollar cost averaging (DCA) strategy to buy more PEPE. The expert suggests that when the bull market arrives, the pump action of PEPE will be similar to the SHIB rise in 2021.
When $PEPE levels out and finds support, I'm going to start DCAing. When we enter a bull market, the pump potential will be insane
Check out $SHIB for example. After peaking, it found support and went sideways for 4 months and then exploded WAY higher than the previous peak pic.twitter.com/yLTCVGPvFL
— JRNY Crypto (@JRNYcrypto) May 8, 2023
Tony, one of the experts in the market, also draws attention to certain similarities between the current movements of PEPE and the price action of Shiba Inu in 2021. The famous name especially pointed to the rise from the first active periods of SHIB, that is, from the beginning of 2021 to the $0.000036 levels in May, and stated that a rally where it gained value over 69,000 percent is also possible for PEPE. As you may recall, after reaching the local top, the Shiba Inu faced a free fall where it lost up to 74 percent of its value before finding support between $0.000006 and $0.000009. However, SHIB remained in this zone for four months before the astronomical rise to an all-time high of $0.00008845 in October 2021.
Experts explained: Could PEPE mimic the rise of SHIB?
Tony believes PEPE is ready to follow SHIB. The popular meme coin has already secured a position among the top meme coins in this space. That’s why Tony argues that the chances of the popular memecoin PEPE going into oblivion are pretty low, saying, “It’s very unlikely that it will disappear completely at this point. There are not thousands of other meme coins making the top 50.”
On the other hand, some supporters are skeptical of claims that PEPE could replicate the Shiba Inu pump action in 2021, pointing out that SHIB received more organic community support from PEPE in its early days. In contrast, Tony noted that PEPE pumps this hard in a bear market, showing greater bullish potential in a bull run. On the other hand, the decline in PEPE’s value dropped it from its peak of 42nd to 59th on the list of largest assets by market capitalization. PEPE, which has fallen by 25.27 percent in the last 24 hours, was the biggest loser among the top 500 assets in the continued declines throughout the market. The popular memecoin is trading at $0.000001809, as quoted by cryptokoin.com.
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