Dogecoin (DOGE) May Outperform Bitcoin (BTC) and XRP in the Coming Months, Analyst Claims

During bull markets, Dogecoin has shown remarkable performance, and because of Elon Musk's influence on the market, this token may see a drastic change

Dogecoin (CRYPTO: DOGE) is continuing to garner attention, with speculation that the meme token may even outpace industry titans like Bitcoin (CRYPTO: BTC) and XRP in the coming months.

During the last bull market, Dogecoin put up an impressive performance, and a cryptocurrency analyst is now suggesting that the token may be set for another strong run.

According to the analyst, known as WIZZ, Dogecoin could even surpass other major altcoins, thanks to Elon Musk’s influence in the market.

Musk’s involvement in the meme coin has seen Dogecoin experience previous price surges. WIZZ suggests that Musk’s upcoming ventures, including those within the upcoming Trump administration, may be presenting an opportunity for DOGE to outpace other major altcoins.

Surging interest in Musk’s endeavors has seen the digital currency space experience a collective buzz, not unlike that seen during his past sponsorship stints, which sparked waves of attention.

One interesting tidbit that has crypto enthusiasts buzzing is Musk’s supposed appointment to head the “Department of Government Efficiency” within the Trump administration. Whether such an association could be purely coincidental, crypto lovers are saying that it presents the opportunity of a lifetime for the meme coin.

$DOGE will outperform most majors the coming 3/6 months

U heard it here

Elon marketing starts soon.

— WIZZ🥷 ( beware scammers ) (@CryptoWizardd) January 6, 2025

Dogecoin: Historical Performance

There’s no denying the explosive nature of Dogecoin, at least when basing its price action on historical trends.

Analyst Ali Martinez found that during the 2020–2021 bull market, DOGE went up more than 15,000%. If history were to repeat itself, its token might reach a height of $23 or $1 to $3.

Currently, Dogecoin is trading at about $0.33. It has slipped slightly, to the tune of 2.40% over the last 24 hours.

However, some strong fundamentals and community support may be enough to give the meme coin some steam in the upcoming months.

According to data from CoinCodex and IntoTheBlock, there’s an uptick in activity on the blockchain, suggesting that investors are once again taking an interest in DOGE.

Can Dogecoin Really Outperform Bitcoin & XRP?

Both Bitcoin and XRP have carved out strong niches in the market.

Bitcoin leads the way in terms of institutional adoption, while XRP focuses on cross-border payment options. Dogecoin, on the other hand, gains a lot from both its active community and Musk’s support.

While outperforming Bitcoin and XRP is a bold prediction, Dogecoin does have a history of exceeding expectations.

WIZZ’s claim aligns with some predictions that Dogecoin is set to thrive in the upcoming market cycle. These projections highlight Musk’s influence and the token’s appeal as an investment.