In recent days, there has been a significant shift in the cryptocurrency market. Assets like Dogecoin (DOGE) and Ripple's XRP have performed well throughout the month. XRP has successfully risen and become the third largest cryptocurrency. While altcoins have driven several assets to take this position, Dogecoin may follow in XRP's footsteps.
Dogecoin and Ethereum
In the past month, Dogecoin's price has surged over 160%. This OG meme coin skyrocketed from a low of $0.14 to a high of $0.4775. As of the time of publication, Dogecoin is trading at $0.4079, having decreased over 3% in the past 24 hours.
As shown in the chart, Ethereum also recorded quite a good increase. In the past 30 days, the largest altcoin surged by 42%. At the time of writing, ETH is trading at $3,581.06. However, in the past 24 hours, the asset has decreased by 2.69%.
Additionally, Ethereum's market capitalization is currently $430 billion, making it the second-largest cryptocurrency in the market. In comparison, DOGE's market cap is as high as $59 billion. Currently, DOGE is the seventh-largest cryptocurrency in the market.
Dynamic Potential Changes
Amid this, an analyst shared a rather shocking prediction with the community. According to trader Tardigrade, Dogecoin will "surpass" Ethereum. The analyst believes this could happen in the coming months. The expert elaborated on this point,
"In the coming months, Dogecoin's performance may outperform Ethereum. The monthly candlestick chart for $DOGE/$ETH in November shows a strong bullish breakout on the trend line."
