Dogecoin Vs. Bitcoin: Gauging The Performances Of Two Crypto Giants This Cycle
October 09 2024 - 10:00PM
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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 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, the
foremost meme coin has consistently outperformed the flagship
crypto in every cycle despite the over 90% drawdowns witnessed in
those cycles. Related Reading: Crypto Analyst Predicts
Massive 8,400% Rise For XRP Price To $44, Calls It ‘Conservative’
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, likely because it was the first cryptocurrency.
However, since then, Bitcoin’s gains have decreased over the last
three cycles. Meanwhile, Dogecoin has enjoyed price gains in every
successive market cycle. The foremost meme coin is said to
have 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
is confident 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.
Interestingly, the analyst asserted that Dogecoin is the “stronger
cryptocurrency and is poised to take over the world.” Like James,
crypto analysts like Kevin Capital and Crypto Kaleo also previously
predicted that Dogecoin will outperform Bitcoin in this market
cycle. More recently, crypto analyst Master Kenobi also echoed a
similar sentiment, citing Dogecoin’s historical performance and
community-driven momentum as the reason it will outperform the
flagship crypto. 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%. Related Reading: Shiba Inu Price Set To Rally Over 2430%
To $0.000047 As Trend Oscillator Turns Bullish 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. Therefore, DOGE will likely outperform BTC if it
eventually reaches this price target. Featured image created
with Dall.E, chart from Tradingview.com
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