The surge of Pepe (PEPE) in the cryptocurrency market has drawn comparisons to Dogecoin (DOGE), as Crypto Rover, Founder of cryptoseacom, states that PEPE may be the next Dogecoin. Examining the historical trends and price movements of these two cryptocurrencies highlights striking similarities in their explosive growth and subsequent corrections.
Dogecoin’s chart from 2016 to 2024 showcases its price evolution. In early 2018, DOGE hit an all-time high (ATH) of around $0.018, a significant resistance level until early 2021. In 2021, DOGE saw exponential growth, skyrocketing to an ATH of approximately $0.72057.
This represented a 3,899.50% increase from its previous resistance, equating to a remarkable 38x rise. After peaking, DOGE entered a correction phase, finding substantial support around $0.12001. As of May 2024, DOGE trades at $0.16528, marking a 23.95% rise from its recent lows, indicating a potential recovery or continuation of the uptrend.
The key support and resistance levels for DOGE are noteworthy. The support level stands at $0.12001, the recent low during the correction phase. The resistance level includes the ATH at $0.72057, with intermediate resistance around the current price level of $0.16528. Breaking through these levels is crucial for DOGE to confirm an upward trend continuation.
PEPE reached an ATH of approximately $0.000018 in April 2023. Similar to DOGE, PEPE experienced a massive surge, reaching an ATH of $0.000168790514, representing an astronomical 3,834.83% increase, also equating to about a 38x rise.
After peaking, PEPE corrected significantly but found robust support, initiating a recovery phase. Currently, PEPE trades at $0.000016784542, showing a 4.81% increase. This level is near the previous ATH, suggesting potential resistance.
PEPE Declines 5% on Support Break as Chainlink Rises 6.49% in a DayKey support and resistance levels for PEPE include a support level at $0.000015, the recent low during the correction phase. The resistance level encompasses the ATH at $0.000168790514, with intermediate resistance around the current price of $0.000016784542. Breaking through these levels is essential for PEPE to maintain upward momentum.
Both DOGE and PEPE exhibit explosive growth patterns, with 38x increases from their respective breakout points. After reaching ATHs, both cryptocurrencies experienced corrections and are currently in recovery phases.
For DOGE, sustaining support around $0.12001 and breaking through immediate resistance at $0.16528 is crucial for confirming an upward trend continuation. For PEPE, maintaining support around $0.000015 and breaking through immediate resistance at $0.000016784542 is essential for upward momentum. The ATH at $0.000168790514 remains a significant resistance level for PEPE.
As per Coinmarketcap data at press time, Dogecoin is priced at $0.164346 with a 24-hour trading volume of $1,562,940,544, down 0.59% in the last 24 hours. Meanwhile, Pepe is priced at $0.000015 with a 24-hour trading volume of $2,139,125,948, down 5% in the last 24 hours.
