• A top crypto analyst has drawn a comparison between PEPE and Zoom, suggesting that PEPE could follow suit and post an 800% increase in value.
• The community disagrees with this assessment, citing different fundamentals.
• Despite the uncertainty, PEPE is currently ranked 53rd by CoinMarketCap and has had impressive returns over the past few weeks.
Dogecoin Rival Poised to Turn $100 Investment into a Million?
A top crypto analyst on Twitter has drawn a parallel between PEPE and Zoom shares. The pseudonymous analyst Kaleo suggested that the Dogecoin rival, PEPE can continue to rebound if it behaves similarly to popular tech stock, Zoom.
Similarities Between Pepe & Zoom
Kaleo revealed in a Twitter thread that PEPE’s recent price explosion is comparable to Zoom’s (ZM) early 2020 price movement, recording over an 800 percent increase in less than 12 months at the time. Additionally, Kaleo established that Zoom traded beneath a diagonal resistance which also resembles the market structure of the memecoin at present on shorter timescales.
The community disagrees with Kaleo’s stance as they state both Zoom and PEPE cannot be compared because they are not related and the scenarios are different. Notably, Zoom had a surge in demand for its services following the Pandemic due to millions of individuals switching to remote work while memecoins are developed as jokes or parodies based off speculation rather than any inherent worth or function.
Can Pepe Generate Returns?
It is difficult to predict whether PEPE will generate high returns for investors despite its impressive performance over recent weeks. As of now, it is trading at $0.000002273 and ranks as the 53rd largest cryptocurrency according to data from CoinMarketcap.
Although it is uncertain if PEPE will reach similar heights as tech stocks such as ZOOM have done during Covid-19 pandemic, it has established itself as one of leading memecoins with impressive returns over the past few weeks