Check out this shocking Pepe coin versus Bitcoin comparison
Pepe coin is the most talked about asset in the crypto market right now. The less than one month old meme token has nothing at all to do with Bitcoin, yet shows almost exact price patterns.
Don’t miss this incredible and unusual chart comparison between BTCUSD and PEPEUSDC.
A quick summary of the Pepe coin and its ongoing crypto success
The Pepe coin is one of the biggest new meme coins, triggering a massive wave of multiple meme tokens of all kinds. If you couldn’t tell by the name, much like Dogecoin is associated with the Doge meme, this one features the Matt Furie-created Pepe the Frog.
Anyone who has invested in Pepe coin in the last couple of weeks is “feeling good, man.” That’s because it has risen in value by over 2,500% in 14 days – numbers that are high even by crypto standards. Most of the supply of holders at this time is in significant profit. But if the Bitcoin chart is any indication of what’s to come, it could be a serious profit.
IN comparison below we have pitted the 4-hour PEPEUSDC chart against the weekly BTCUSD chart. The left chart shows two weeks of price action, while the right chart shows four full years. Yet they are extremely similar.
Bitcoin versus the frog king of the memes | PEPEUSDC on TradingView.com
The unusual Bitcoin comparison explained
According to the study of the Elliott Wave principle, markets are fractal and form self-similar, repeating patterns across varying degrees of time frames. Simply put, the same price action and behavior can appear on an hourly or 4H chart as it does on a much higher time frame.
The study focuses on mass crowd behavior and human psychology, particularly how it can create clearly definable turning points in financial markets. The two charts that look and behave so similarly may be due to the same type of speculative behavior.
More importantly, if the comparison is accurate for the reasons discussed, it could indicate that Pepe coin is due for some profit and a correction soon enough. Of course, the meme coin may not be anywhere near done, and anyone selling now may be a very, very sad frog.
Did you buy Pepe? Tell us on Twitter.
Did you buy #PEPE?
Comment = No 😭
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Like = Soon 🐸— NewsBTC (@newsbtc) 2 May 2023
