A trader renowned for his accurate predictions in the cryptocurrency market believes that the value of a popular memecoin is set to more than double. Last week, the pseudonymous analyst Hsaka shared his belief with his 554,600 followers on the social media platform X that Pepe (PEPE), a memecoin with a frog theme, will surpass its rival Shiba Inu (SHIB) in terms of market cap. At the time, PEPE was ranked as the 28th largest cryptocurrency by market cap.

Since then, PEPE, which is based on the Ethereum (ETH) blockchain, has experienced significant growth, with its value increasing by around 71% in just a few days. Hsaka shared an updated chart showing that PEPE has surpassed six other cryptocurrencies in terms of market cap rankings, further solidifying its upward trajectory.

Hsaka is not the only crypto strategist who is optimistic about PEPE’s potential. Another analyst, Kaleo, shared with his 640,600 followers on X that based on the performance of SHIB and Dogecoin (DOGE) in the previous market cycle, it is possible for PEPE to see substantial gains in the current bull market. Kaleo pointed out that PEPE currently has a market cap of only $6 billion, while DOGE reached a maximum market cap of $75 billion and SHIB nearly reached $50 billion. This suggests that there is still plenty of room for growth for PEPE.

As of now, PEPE is valued at $0.0000152, representing a 7% increase in the past 24 hours.

Please note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets.