Max says the market’s calling top too early. Based on years of chart behavior, he sees Pepe as coiled and ready - not finished.
His Key Points:
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ETH leads, Pepe follows - Same as Q1 2024. ETH broke out, Pepe followed weeks later. Max says we’re in that lag again.
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This isn’t bearish - Pepe is up, just not as much as ETH or DOGE (yet). Classic setup for a catch-up move.
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Pair charts say it all - Pepe/DOGE and Coinbase/Pepe show tight historical correlations. Pepe tends to move after leaders rip.
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No sign of a top - Ethereum funding rates are still low. Every major Pepe top in the past came when funding was overheated. We’re not even close.
Max’s Take:
This is the “beachball underwater” setup. Pepe hasn’t broken correlation - it’s just lagging. When the move comes, it could be fast and vertical.