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Cryptocurrency News Articles
Dogecoin (DOGE) Will Likely Outperform Bitcoin (BTC) in This Bull Run, Analyst James Predicts
Oct 10, 2024 at 10:00 am
James suggested in an X post that Dogecoin will likely outperform Bitcoin in this market cycle. The analyst noted that since Dogecoin's launch in 2013
Crypto analyst James recently compared Dogecoin (DOGE) and Bitcoin (BTC) to determine what to expect from these major cryptocurrencies in this market cycle. According to his analysis, the foremost meme coin will likely outperform the flagship cryptocurrency in this bull run.
After Dogecoin's launch in 2013, the meme coin has outperformed Bitcoin in every cycle despite the over 90% drawdowns witnessed in those cycles, James said in an X post.
“Everyone keeps talking about how BTC will 10x, 20x, 30x this cycle, but did you know that DOGE has outperformed BTC every single cycle since its launch in 2013,” James stated in the post.
The analyst also highlighted the performances of these coins since their inception. He noted that most of Bitcoin’s gain came during its first cycle, probably because it was the first cryptocurrency. However, since then, Bitcoin’s gains have decreased over the last three cycles. Meanwhile, Dogecoin enjoyed price gains in every successive market cycle.
The meme coin reportedly surged by over 54,000% in the 2018 bull market and a price gain of over 54,800% in the 2021 bull run.
In line with this, James believes that Dogecoin will again surpass its previous two cycles’ percentage gains while Bitcoin will record smaller gains in this bull run compared to the previous cycles.
“This is to say that DOGE has outperformed BTC in every single bull cycle despite enduring drawdowns of over 90%,” the analyst noted.
“Now, tell me again how BTC will outperform DOGE in this bull.”
Interestingly, the analyst asserted that Dogecoin is the “stronger cryptocurrency and is poised to take over the world.”
Like James, crypto analysts such as Kevin Capital and Crypto Kaleo earlier predicted that Dogecoin will outperform Bitcoin in this market cycle. More recently, crypto analyst Master Kenobi also shared a similar belief, stating that Dogecoin's historical performance and community-driven momentum are why it will outperform the flagship crypto.
The Foremost Meme Coin Is Lagging Behind
Despite these bullish predictions for Dogecoin, it is crucial to note that the foremost meme coin is currently lagging behind the flagship crypto in this market cycle.
CoinMarketCap data shows that the meme coin boasts a year-to-date (YTD) gain of just over 21% compared to Bitcoin, which has recorded a price gain of over 47%.
Moreover, the flagship crypto already hit a new all-time high (ATH) in this bull run. Meanwhile, Dogecoin is still way below its current ATH of $0.7.
However, considering James' analysis that the meme coin has outperformed Bitcoin in previous cycles despite suffering a 90% drawdown, there remains the possibility that DOGE will still top BTC in this market cycle.
Analysts like Crypto Kaleo, Kevin, and Master Kenobi have all predicted that Dogecoin could reach $1 in this bull run. That represents a price gain of over 500% from its current price.
Hence, DOGE will likely outperform BTC if it eventually reaches this price target.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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- Dogecoin (DOGE) Will Likely Outperform Bitcoin (BTC) in This Bull Run - Analyst James
- Oct 10, 2024 at 02:15 pm
- Crypto analyst James has compared Dogecoin (DOGE) and Bitcoin (BTC) and provided insights into what to expect from these major cryptocurrencies in this market cycle. Based on his analysis, the foremost meme coin will likely outperform the flagship cryptocurrency in this bull run.
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