A trader known for his timely crypto market calls thinks a rising memecoin is about to more than double its valuation.
Early last week, pseudonymous analyst Hsaka told his 554,600 followers on social media platform
PEPE was the 28th largest cryptocurrency by market capitalization at the time.
Since then, the Ethereum (ETH)-based memecoin has gained momentum, rising around 71% in just a few days. Hsaka shares another chart showing that PEPE has leapfrogged six other crypto assets in terms of market capitalization.
“Update: the climb to the top continues.”
Hsaka is not the only crypto strategist who is positive about PEPE. Fellow analyst Kaleo tells his 640,600 followers on social media platform
“PEPE has only a market capitalization of $6 billion. DOGE reached a maximum market cap of $75 billion last cycle, while SHIB reached almost $50 billion. I think it’s safe to say there’s still a lot of upside for the frog.”
At the time of writing, PEPE is worth $0.0000152, up about 7% in the last 24 hours.
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Generated image: Midjourney