-Dogecoin will surpass Bitcoin in 2024, analysts predict
continued growth The #cryptocurrency market has shown a strong upward trend, supported by a marked increase in #bitcoin prices after the U. S. presidential election in 2024.
This bullish trend caused a #ripple effect, driving up the price of many altcoins and meme coins, among which #Dogecoin (DOGE) was one of the leaders.
Since the beginning of the year, bitcoin has risen by more than 119%, and Dogecoin has shown an impressive 355% growth. DOGE's growth has been driven not only by the rise of bitcoin, but also by an increasingly favorable regulatory environment for cryptocurrencies and expectations of a more cryptocurrency-friendly cabinet in the new administration.
A technical analysis tool known as the Price Momentum Oscillator (PMO), which tracks the rate of change in the price of an asset, shows that Dogecoin's growth may be just beginning. Although the indicator is still at a relatively low level, this suggests that the asset has room to grow, as we have seen during previous parabolic rallies.
analyst trader Tardigrade emphasized this in his post on X, stating that although the pmo is still at a weekly low, the action during previous rallies shows the potential for continued growth.
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