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.
Crypto analyst James recently shared his thoughts on what to expect from Dogecoin (DOGE) and Bitcoin (BTC) in this market cycle. According to his analysis, the meme coin is likely to outperform the flagship cryptocurrency in this bull run. Here's a summary of James' analysis and other analysts' predictions for DOGE and BTC.
In an X post, James suggested that Dogecoin will likely outpace Bitcoin in this market cycle. The analyst highlighted that since Dogecoin's launch in 2013, it has outperformed Bitcoin in every cycle despite suffering drawdowns of over 90% in those cycles.
Highlighting the performances of these coins since their inception, the analyst noted that a large portion of Bitcoin’s gain was recorded during its first cycle, probably because it was the first cryptocurrency. However, since then, Bitcoin's gains have declined over the last three cycles. On the other hand, Dogecoin has enjoyed price gains in each successive market cycle.
The meme coin reportedly surged by over 54,000% in the 2018 bull market and enjoyed a price gain of over 54,800% in the 2021 bull run. In light of this, James is confident that Dogecoin will once again surpass its previous two cycles' percentage gains while Bitcoin will record smaller gains in this bull run compared to the previous cycles.
Interestingly, the analyst went on to say that Dogecoin is the “stronger cryptocurrency and is poised to take over the world.” Besides James, crypto analysts like Kevin Capital and Crypto Kaleo previously predicted that Dogecoin will outpace Bitcoin in this market cycle. Recently, crypto analyst Master Kenobi also shared a similar view, highlighting Dogecoin's historical performance and community-driven momentum as reasons for its outperformance compared to the flagship crypto.
Despite these bullish predictions for Dogecoin, it is noteworthy that the meme coin is currently lagging behind the flagship crypto in this market cycle. According to CoinMarketCap, 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 has already hit a new all-time high (ATH) in this bull run, while Dogecoin is still trading 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 is still a chance for DOGE to still top BTC in this market cycle.
Analysts like Crypto Kaleo, Kevin, and Master Kenobi have all predicted that Dogecoin could hit $1 in this bull run. That represents a price gain of over 500% from its current price. Hence, if DOGE eventually reaches this price target, it will likely outpace BTC.