Pepe, the hot memecoin that is climbing the market cap list, is seeing a remarkable trend in the recent market structure and may have the potential for further gains if it follows the same pattern as one of the tech stocks that skyrocketed during the Covid pandemic. Pseudonymous analyst Kaleo shared with his 585,000 Twitter followers that the ascent of Pepe is similar to that of Zoom's (ZM) in early 2020, when the tech stock rose 800% over the span of 12 months. According Kaleo, Pepe has just broken through a diagonal resistance and it may continue to climb if it follows the same footsteps of Zoom.

The memecoin has already gone up 5,330%, reaching a record of $0.00000431 last week and is currently trading at $0.00000296. Kaleo believes Pepe may reach his projected target of $0.000007 for a 130% increase. However, it is impossible to tell whether the rise in price is only short-term speculation, or if Pepe will be able to hold its value in the long term.

In the past 12 months, Zoom was able to hit its all-time high due to the increasing demand of its online services. With the same faith in Pepe, one could assume the memecoin has the same potential in the following year events unfold, however, to truly gain an understanding of Pepe's future movements one must consider it's nature and the dynamics surrounding it. Unlike Zoom, Pepe does not have a blockchain and is not a cryptocurrency, nor does it have a fundamental use case. Even though Kaleo's comparison of the two may be accurate, it is impossible to predict with the same level of certainty that Pepe, with its quickly growing market, will follow the same footsteps.

Overall, the movement of Pepe could be similar to that of Zoom in 2020, however, given the nature of this memecoin it is difficult to predict it's future with absolute certainty. The recent rally witnessed by Pepe is reason to believe that it may have a potential for further rallies. That being said, only time will tell how the memecoin will progress in the crypto market.



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