- Miles Deutscher predicts PEPE will outperform DOGE in the next bull cycle.
- Deutscher noted that fewer PEPE holders are underwater compared to DOGE holders.
- PEPE has more multiples to reach its previous all-time high (ATH) compared to DOGE.
PEPE will outperform DOGE in the next bull cycle, predicts Miles Deutscher, a renowned cryptocurrency analyst. In a Twitter post, Deutscher highlighted the reasons behind his prediction.
Deutscher’s first reason for supporting PEPE to outperform DOGE in the next cycle is what he called “The Underwater Thesis.” He noted fewer PEPE holders are “underwater” compared to DOGE holders. By that, he means the number of PEPE holders whose investments are currently negative is fewer than DOGE holders. That implies there will be less selling pressure for PEPE compared with DOGE when the rally begins.
Deutscher further supported his claims by noting that PEPE has more multiples to reach its previous all-time high (ATH) compared to DOGE. For PEPE to attain its previous ATH, its price would multiply twelve times. However, the potential for DOGE is lower, with less than three multiples to reach its previous ATH.
Deutscher believes the crypto community is more fatigued about DOGE since the token has been around for a while. For PEPE, the freshness of innovation could work in its favor. Moreover, the crypto analyst expressed that crypto users are more curious to explore the new meme coin, which projects to possess more meme characteristics than DOGE.
By comparing the market cap of both coins, Deutscher identified a fourteen times discrepancy. That implies PEPE would need less liquidity injection for its price to move compared with DOGE. Therefore, the PEPE price would rally faster, with more potential profit for investors in the next bull cycle.
PEPE is a new meme coin based on the meme character Pepe the Frog. It launched in April this year and immediately caught the attention of the crypto industry. Following PEPE’s listing on multiple centralized exchanges, the meme coin’s price rallied significantly. However, the price dropped rapidly and lost most of its gains.
PEPE has resumed its upward trajectory with the current market rally. Data from TradingView shows it has gained over 90% from its local low and is trading at $0.0000015711 as of the time of writing.
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