Cryptocurrency analyst Miles Deutscher of PEPE world’s largest meme token Dogecoin (DOGE) made the bold prediction that he would surpass it in the next cycle.
PEPE Forecast From Cryptocurrency Analyst Miles Deutscher
Deutscher explained in a tweet today why he thinks PEPE has more potential than DOGE in the near future. He mentioned three main factors: The Losers Thesis, Meme Token Fatigue, and Market Value Inconsistency.
I think $PEPE outperforms $DOGE next cycle.
Why?
• The Underwater Thesis: Less PEPE holders underwater vs DOGE, meaning less sell pressure on the way up + lower multiples to reach previous ATH (2.8x vs 12x).
• People are more fatigued with the DOGE meme, Pepe feels fresher…
— Miles Deutscher (@milesdeutscher) June 23, 2023
The Losers Thesis expresses the idea that fewer PEPE holders are at a loss (i.e. they buy at a higher price than the current market price) compared to DOGE holders.
This means less selling pressure on the uptrend and lower multiples to hit previous all-time highs (12x versus 2.8x).
Meme Token Fatigue suggests that people are getting more tired of DOGE, overused and exploited by celebrities and influencers, while Pepe is a fresher and more organic/liked concept.
Deutscher argued that this could mean more demand and excitement for PEPE.
The Market Cap Inconsistency indicates that PEPE has a much smaller market cap than DOGE (14 times the difference), meaning it needs much less liquidity to move the price compared to DOGE.
Deutscher hinted that this could make PEPE more attractive to investors seeking higher returns.
*Not investment advice.
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