🔥 PEPE vs SHIBA: Entering Accumulation Zone
PEPE / TetherUS BINANCE:PEPEUSDT
A few weeks ago I made an analysis on PEPE vs SHIBA where I discussed how PEPE and SHIBA are alike and potentially following the same kind of price action.
Now that we're a couple of weeks further, it's time to see how PEPE is performing against the historical price action of SHIBA.
As seen on the chart, we're following a very similar pattern (1-2-3). Initial pump after Binance listing, huge sell-off (1), 100% recovery (2), continued selling followed by a small recovery (3).
In my eyes, PEPE is currently in an accumulation phase, just like SHIBA did in 2021. Not sure yet how long this accumulation takes and how low we potentially can go, but I'm fairly certain that PEPE will pump again at some point in the future.
If we follow SHIBA very closely, expect PEPE to sell-off towards the ~90 area in the near future. If we find strong support there we might pump 50%, just like SHIBA did back then.
A speculative bet, but nevertheless a very profitable one if it plays out.
