Cryptocurrency analyst and trader Michael Van de Poppe, has pointed out the surging momentum of the meme cryptocurrency PEPE (CRYPTO: PEPE) , likening its potential to that of Dogecoin (CRYPTO: DOGE)

What Happened: Van de Poppe in a tweet on X said, “$PEPE shows a lot of momentum,” and for investors seeking to capitalize on the asset, he suggests that “buying dips on this one is a proper strategy at this market stage. It may be the new $DOGE.”

The chart shared by Van de Poppe shows the current entry zone for PEPE is between $0.000001285 and $0.000001350. 

The analyst claims PEPE to surge 30% and reach $0.000002000 level.

PEPE was up 40% in the last seven days. At the time of writing, PEPE was trading at $0.00000153.

The rise can be attributed to the optimism surrounding the Bitcoin (CRYPTO: BTC) spot ETF, which has seen Bitcoin reclaim the $44,000 level, instigating a ripple effect across altcoins and catalyzing a spike in meme-inspired tokens such as DOGE and Shiba Inu (CRYPTO: SHIB).

See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals

Why It Matters: On Ethereum (CRYPTO: ETH), Van de Poppe suggested a possible rally in its value against Bitcoin. “The period prior to the Bitcoin halving, 3-8 months before, it’s the best period to allocate towards altcoins,” Van de Poppe said. 

He observes trends that indicate Ethereum may follow suit, “Ethereum is ready for $3,000+ in Q1.”

Price Action: At the time of writing, Bitcoin was trading at $43,521, down 1.02% in the last 24 hours, according to Benzinga Pro. 

Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?