Cryptocurrency analyst James compared Dogecoin (DOGE) and Bitcoin (BTC) and gave his insights on what to expect from these major cryptocurrencies in this market cycle. Based on his analysis, the top meme coin is likely to outperform the top cryptocurrency in this bull run.
What to Expect from Dogecoin and Bitcoin This Cycle
James suggested in a post on X that Dogecoin is likely to outperform Bitcoin in this market cycle. The analyst noted that since Dogecoin launched in 2013, the top meme coin has consistently outperformed the leading cryptocurrency in every cycle despite seeing over 90% declines in those cycles.
The analyst also highlighted the performance of these coins since their inception. He noted that most of Bitcoin's gains came during its first cycle, likely because it was the first cryptocurrency. However, Bitcoin's gains have since declined in the last three cycles. Meanwhile, Dogecoin has enjoyed price gains in every consecutive market cycle.
The top meme coin is said to have gained over 54,000% during the 2018 bull market and increased in price by over 54,800% during the 2021 bull run. In line with this, James is confident that Dogecoin will once again surpass the percentage gains of the previous two cycles while Bitcoin will record smaller gains in this bull run compared to previous cycles.
Interestingly, the analyst asserts that Dogecoin is “the stronger cryptocurrency and is poised to dominate the world.” Like James, crypto analysts such as Kevin Capital and Crypto Kaleo have also previously predicted that Dogecoin will outperform Bitcoin in this market cycle. More recently, crypto analyst Master Kenobi has also echoed the same sentiment, citing Dogecoin’s historical performance and community momentum as reasons why it will outperform the leading cryptocurrency.
Top meme coins are falling behind
Despite these bullish predictions for Dogecoin, it's worth noting that the top meme coin is currently lagging behind the top cryptocurrency in this market cycle. CoinMarketCap data shows that the meme coin boasts year-to-date (YTD) gains of just over 21%, compared to Bitcoin, which has seen a price increase of over 47%.
Furthermore, the leading cryptocurrency has hit a new all-time high (ATH) during this bull run. Meanwhile, Dogecoin is still well below its current ATH of $0.70. However, considering James' analysis that the meme coin has outperformed Bitcoin in previous cycles despite a 90% drop, there is still a chance that DOGE will still outperform BTC in this market cycle.
Analysts like Crypto Kaleo, Kevin, and Master Kenobi all predict that Dogecoin could hit $1 during this bull run. That would represent a price increase of more than 500% from its current price. Therefore, DOGE is likely to outperform BTC if it eventually reaches this price target.
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