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Crypto analyst James has compared Dogecoin (DOGE) and Bitcoin (BTC) and provided insight into what to expect from these major cryptocurrencies in this market cycle. Based on his analysis, the main meme coin is likely to outperform the flagship cryptocurrency this bull run.
What to expect from Dogecoin and Bitcoin in this cycle
James suggested that in an X-post 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 flagship crypto in every cycle, despite the declines of over 90% seen in those cycles.
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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. Since then, however, Bitcoin’s gains have declined over the past three cycles. In the meantime, Dogecoin has posted price gains in each successive market cycle.
The top meme coin is said to have risen over 54,000% in the 2018 bull market and gained over 54,800% in the 2018 bull market. the running of the bulls of 2021. In line with this, James is confident that Dogecoin will again surpass the percentage gains of the previous two cycles, while Bitcoin will post smaller gains in this bull run compared to the previous cycles.
Interestingly, the analyst claimed that Dogecoin is the “stronger cryptocurrency and is about to take over the world.” Just like James, so do crypto analysts like Kevin Capital and Crypto Kaleo previously predicted that Dogecoin will outperform Bitcoin in this market cycle. More recently, crypto analyst Master Kenobi echoed a similar sentiment, citing Dogecoin’s historical performance and community-driven momentum as the reason it will outperform the flagship crypto.
The main meme coin is lagging behind
Despite these bullish predictions for Dogecoinit is worth noting that the top meme coin is currently lagging behind the flagship crypto in this market cycle. CoinMarketCap data shows that the meme coin has a year-to-date (YTD) gain of just over 21% compared to Bitcoin, which has seen a price gain of over 47%.
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Moreover, the flagship crypto already has a new hit all-time high (ATH) in this bull run. Meanwhile, Dogecoin is still well below its current ATH of $0.7. However, given James’ analysis that the meme coin has outperformed Bitcoin in previous cycles despite a 90% pullback, the possibility remains that DOGE will still top BTC. this market cycle.
Analysts like Crypto Kaleo, Kevin and Master Kenobi have all predicted that Dogecoin could reach $1 in this bull run. This means a price gain of more than 500% compared to the current price. Therefore, DOGE will likely outperform BTC if it ultimately reaches this price target.
Featured image created with Dall.E, chart from Tradingview.com