In the midst of the current bull market momentum, meme coins have been thriving, with notable coins like Shiba Inu, Dogecoin, and Pepe making significant gains as Bitcoin soared to $99K. However, a new game-changer meme coin has emerged, catching the attention of analysts and investors alike.
Mark Schwartzman, the founder of Because Bitcoin, has introduced a new contender to the meme coin domain that has the potential to flip giants like Shiba Inu and Dogecoin. In a detailed analysis shared on CryptoRank, Schwartzman discussed the theory of alpha and beta in the cryptocurrency market, highlighting the importance of the relationship between these two factors.
Schwartzman pointed out that in the last bull cycle, SHIB, considered a beta coin, successfully flipped Dogecoin, an alpha meme coin. He emphasized that while beta coins can outperform alpha coins for short periods, excessive outperformance could indicate an overheated market.
Now, Schwartzman believes that a similar pattern is emerging once again, with Pepe poised to become the new alpha of the season, potentially flipping both SHIB and Dogecoin in the long run. He advised investors to be cautious and exit the market when the flip happens to avoid the repercussions of market overheating.
According to Schwartzman, Pepe may surge by 230% to reach a new price mark of $0.00006368 by mid-December, as per CoinCodex’s price prediction. The current sentiment is bullish, with the Fear & Greed Index showing extreme greed at 82.
As Pepe gains momentum and attracts attention in the meme coin domain, investors are advised to keep a close eye on its performance relative to other meme coins. While both SHIB and Dogecoin are expected to rise together in the short term, the potential flip by Pepe could signal a shift in the market dynamics.
Overall, the emergence of Pepe as a potential alpha in the meme coin market has sparked excitement and speculation among investors. As the cryptocurrency market continues to evolve, it will be interesting to see how Pepe’s journey unfolds and whether it can truly outshine giants like SHIB and Dogecoin.