Dogecoin and Pepe: The Rise of Memecoins - COINTURK NEWS
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Dogecoin and Pepe: The Rise of Memecoins

7:08 pm (33 days ago)
November 4, 2023

Crypto analyst The Flow Horse, closely monitoring the realization of his predictions, made a remarkable forecast that the biggest memecoin, Dogecoin (DOGE), is preparing for a bullish rally. The analyst, expecting a price increase of over 2x in DOGE, also stated that another popular memecoin, Pepe (PEPE), will rise in the short term.

“Dogecoin Will Bark Again Soon”

Anonymous crypto analyst The Flow Horse stated on his personal X account (formerly known as Twitter) that DOGE has a lot of upward potential after surpassing the descending resistance trend line on the weekly chart. The analyst used the following statements to explain his expectations for the memecoin:

All risky assets are rising in price. I always remind myself that Elon Musk owns X and that the movements of the world’s beloved memecoin are extremely limited. I think DOGE will bark again soon.

At the time of writing this article, DOGE is trading at $0.06884, with a 2.57% increase in the past 24 hours. Looking at the Dogecoin chart shared by the analyst, it is clearly visible that the target level he expects to reach is $0.1515.

According to the Analyst, PEPE’s Rise Can Continue Under FOMO

The Flow Horse continued the topic through memecoins and mentioned Pepe, stating that the beloved memecoin is gathering strength to move upward. While the analyst warns that there could be a further drop during this consolidation phase, he added that the likelihood of PEPE losing most of its gains soon is low:

I added to my long position in PEPE futures. I believe we can drop a bit more, but I don’t think there will be a Burj Khalifa formation decline in the short term. As major altcoins rise further, I expect a bit more FOMO in PEPE.

Burj Khalifa is a bearish formation that resembles the structure of the world’s tallest building, where a cryptocurrency loses most of its gains after a steep rise.

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