The post Crypto Founder Sells Dogecoin To Buy PEPE, Here’s Why appeared on BitcoinEthereumNews.com.

Max, the founder and Chief Executive Officer (CEO) of Because BTC, a crypto-focused company, has just disclosed that he has sold off his Dogecoin (DOGE) holdings to buy Pepe tokens. This surprising news comes amid a significant decline in the Dogecoin price, which has fallen 9.8% from its previous high.  Crypto Founder Dumps DOGE For PEPE In an X (formerly Twitter) post, Max announced to his 52,200 followers that he had sold all of his Dogecoin holdings and invested fully in Pepe. The crypto founder revealed that the reason for this unexpected investment decision is due to the technical analysis of the DOGE.D and PEPE.D charts, which represent the market dominance of DOGE and Pepe, respectively. Source: X The analyst disclosed that he had initially invested in Dogecoin due to a bullish pattern he observed on its chart, which at the time suggested a strong potential for growth in the meme coin. In the DOGE.D chart, Max revealed that the meme coin had experienced a massive upward movement, recording a 2.15% increase in its market dominance. This increase in dominance coincides with the recent spike in the DOGE price, which saw the meme coin skyrocketing from around the $0.1 mark at the end of October to $0.4 at some point in November. During this period, Dogecoin experienced gains not seen since 2021, jumping by more than 80% in just one week. Moving ahead, Max has revealed that he sees a similar bullish outlook for Pepe. He disclosed that in the PEPE.D chart, the previous bull pattern observed in DOGE is currently forming for Pepe. In contrast to Dogecoin which has experienced a price rally, the crypto founder explained that Pepe’s bullish momentum was a few weeks behind.  Anticipating this impending price surge, Max has invested heavily in Pepe after closing…

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Filed under: News - @ November 14, 2024 12:25 am