🚨🚨 Crypto Founder Sells Dogecoin to Invest in PEPE Here’s Why 🚨🚨
Max, founder and CEO of Because BTC, a crypto-focused company, has announced he has sold his Dogecoin (DOGE) holdings to buy Pepe tokens. This decision follows a recent 9.8% decline in Dogecoin’s price from its recent high.
Max Shifts from DOGE to PEPE
In a recent X (formerly Twitter) post to his 52,200 followers, Max revealed his decision to exit Dogecoin entirely and reinvest in Pepe. His choice was driven by technical analysis of DOGE.D and PEPE.D charts, which reflect the market dominance of Dogecoin and Pepe, respectively. Max initially invested in Dogecoin based on a bullish chart pattern that indicated strong growth potential. Recently, DOGE’s market dominance surged 2.15%, coinciding with a notable price increase from approximately $0.1 at the end of October to $0.4 in November, marking an 80% jump within a week.
Max explained he now sees a similar bullish setup in the PEPE.D chart, showing a delayed but developing momentum for Pepe. Anticipating this potential rise, Max closed his Dogecoin position and invested significantly in Pepe, predicting that it may soon challenge DOGE’s dominance among meme coins. He has even dubbed Pepe, currently trading at $0.000012, as the "new king of meme coins."
Dogecoin Price Decline
After a significant monthly increase of 233.47%, Dogecoin’s price has recently dropped by 9.2% in a single day, now trading around $0.37. Crypto analyst Ali Martinez noted on X that when Dogecoin’s MVRV (Market Value to Realized Value) crosses 78%, it often signals a market peak. Following this correction, Martinez projects the MVRV to reset to 45.65%, potentially leaving room for further upward movement in Dogecoin’s price.