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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.
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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%.
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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
