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Assessing Odds of PEPE Repeating its February 2024 Rally

PEPE, a memecoin, may have formed a bottom after falling 57.8% from its all-time high in December. The PEPE/DOGE pair is showing similarities to February 2024, when it retested a key support level before surging higher.

Key Points:

1. PEPE/DOGE pair offers potential buy signal: The pair's chart shows a possible bottom formation, similar to February 2024.
2. Altcoin market weakness: The altcoin market has shed a large percentage in the past six weeks, but this could be a buying opportunity.
3. Bitcoin dominance at resistance: BTC.D is at a vital long-term resistance, which could lead to a rejection and a mini alt-season.
4. Fearful market conditions: The current market fear could be an opportunity for buying, but investors must be aware of the risks.