As a seasoned researcher with over two decades of experience in analyzing financial markets, I have learned to never underestimate the power of community and the potential of innovative ideas, both of which are embodied in Dogecoin (DOGE).
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.
What To Expect From Dogecoin And Bitcoin In This Cycle
In a recent post, James proposed an idea that Dogecoin may surpass Bitcoin during this market phase. The analyst pointed out that throughout every previous cycle since Dogecoin’s debut in 2013, it has consistently outshone Bitcoin, even after experiencing significant drops of over 90% in those cycles.
The analyst further pointed out the track records of these digital coins since their initial launch. He remarked that a significant portion of Bitcoin’s growth occurred during its initial phase, possibly due to it being the pioneer cryptocurrency. Nevertheless, Bitcoin’s growth rate has diminished over the past three market cycles. In contrast, Dogecoin has consistently seen price increases in each subsequent market cycle.
It’s been reported that the most popular meme coin experienced a staggering increase of over 54,000% during the 2018 market surge and a whopping 54,800% rise in the 2021 bull run. Given this track record, James believes Dogecoin will exceed its past two cycles’ percentage growth and Bitcoin may see more modest gains compared to previous bull runs.
It’s worth noting that several cryptocurrency analysts, including Kevin Capital, Crypto Kaleo, and more recently Master Kenobi, have predicted that Dogecoin could surpass Bitcoin in this market cycle. They base their opinion on Dogecoin’s past performance and the strong momentum driven by its community, suggesting that it may become the leading cryptocurrency.
The Foremost Meme Coin Is Lagging Behind
Despite these bullish predictions for Dogecoin, it is worth mentioning 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%.
As a crypto investor, I’ve seen the leading cryptocurrency reach a fresh all-time high (ATH) during this bull run, which is an exciting development. On the other hand, Dogecoin is currently lagging far behind its own previous ATH of $0.7. However, taking into account James’ analysis that Dogecoin has outperformed Bitcoin in past cycles even after experiencing a massive 90% drop, there’s a glimmer of hope that DOGE might surpass BTC in this market cycle as well.
Experts such as Crypto Kaleo, Kevin, and Master Kenobi have all forecasted that Dogecoin might surge to $1 during this market uptrend. This would mean a massive increase of more than 500% from its current value. Consequently, if Dogecoin manages to hit this projected price, it is expected to surpass Bitcoin’s performance.
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2024-10-10 05:10