Analyst Predicts Potential Breakout For Pepe Coin With $1B+ Market Cap In Sight: 'Breakout Has Barely Started'

A pseudonymous analyst said there is potential for significant growth in the market cap of Pepe Coin (CRYPTO: PEPE).

What Happened: Kaleo on Sunday said PEPE’s current market cap stands at $525 million. Comparing this to previous cycles, where Dogecoin (CRYPTO: DOGE) reached $80 billion and Shiba Inu (CRYPTO: SHIB) reached $40 billion at their peaks, the analyst believes that PEPE has the potential for a breakout.

Analyzing the chart, the analyst identifies a high-timeframe (HTF) breakout that has just begun. Based on this observation, Kaleo predicts that PEPE has the potential to surpass a $1 billion market cap and potentially go even higher.

"There’s currently a HTF Breakout on the chart, I see this running back to $1B+ mcap easily," Kaleo tweeted.

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Why It Matters: Last week, Kaleo said PEPE is likely setting up for a parabolic rally which is expected to push the price to a level last seen in May of this year. However, before the anticipated explosive price rise, the analyst predicts that PEPE might experience a quick dip. This dip would serve the purpose of retesting a high timeframe diagonal resistance level as support.

Kaleo added, “Seems like the likelier path at this point to see a bit of a dip before running up.”

Price Action: At the time of writing, PEPE was trading at $0.000001377, up 3.15% in the last 24 hours, according to Benzinga Pro.

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