Dogecoin's gains increase each cycle, surpassing Bitcoin’s declining performance.
Bitcoin’s growth peaked early, while Dogecoin shows continued strength.
Dogecoin may outperform Bitcoin again in the next cycle.
Bitcoin price hovers in the $62,000 range and analysts switch to watching the altcoin charts closely. One analyst takes a close look at DOGE and compares Dogecoin cycles to Bitcoin cycles. Bitcoin (BTC) is the pioneer cryptocurrency and Dogecoin (DOGE) is the pioneer memecoin currency, perhaps the charts offer a unique outlook.
Bitcoin Cycle vs Dogecoin Cycles
As we can see from the post below, one analyst shares two price charts, one showcasing Dogecoin cycles and one depicting Bitcoin cycles. According to his observations, he draws the following conclusions which he explains in great detail in the post.
https://twitter.com/DimaPotts36/status/1843814081389642165
He starts by highlighting the charts in a head-to-head comparison of Dogecoin and Bitcoin, where he says that the historical data highlights a striking difference in their performance across market cycles. While Bitcoin, the original cryptocurrency, saw its largest gains during its first cycle, Dogecoin has continued to outperform it over time.
DOGE Prepares for Monumental Surge
He notes that between 2015 and 2018, Dogecoin surged by an impressive 21,821%, with its second cycle (2020-2021) skyrocketing by 54,890%. In contrast, Bitcoin’s gains have steadily decreased with each cycle, from a 12,804% increase in its second cycle (2015-2017) to just 2,109% in the third cycle (2018-2021).
This comparison suggests that Dogecoin is not only holding its ground but also showing increasing strength, especially when factoring in the massive drawdowns of over 90% it has experienced in each cycle. Despite these setbacks, Dogecoin has consistently rebounded, outpacing Bitcoin in percentage gains every time.
According to the analysis, this trend indicates that Dogecoin could surpass its past two cycles' percentage gains, positioning itself as a potentially stronger investment. Still, Bitcoin’s gains are expected to continue declining as it matures in the crypto market. With its historical dominance over Bitcoin in terms of percentage growth, Dogecoin is seen by some analysts as poised for even more substantial growth in the future.
The post DOGE Prepares to Outperform BTC Once Again as Analyst Compares Dogecoin and Bitcoin Cycles appeared first on Crypto News Land.
