Cryptocurrency analyst James compared Dogecoin (DOGE) and Bitcoin (BTC) and provided insight into what to expect from these major cryptocurrencies during this market cycle. His analysis shows that the top meme coin is likely to outperform the flagship cryptocurrency this running of the bulls.

What to expect from Dogecoin and Bitcoin this cycle

James suggested this in X’s post Dogecoin will likely outperform Bitcoin in this market cycle. The analyst noted that since Dogecoin’s launch in 2013, the top meme coin has consistently outperformed the flagship cryptocurrency in every cycle, despite over 90% declines seen in those cycles.

The analyst also highlighted the performance of these coins since their inception. He noted that most of Bitcoin’s gains occurred during its first cycle, likely because it was the first cryptocurrency. However, since then, Bitcoin’s gains have declined over the past three cycles. Meanwhile, Dogecoin saw prices raise in each subsequent market cycle.

The premier meme coin is said to have surged over 54,000% during the 2018 bull run, with the price surging over 54,800% in bull run 2021. As such, James is confident that Dogecoin will once again exceed the percentage gains of the previous two cycles, while Bitcoin will see smaller gains in this bull market compared to previous cycles.

Interestingly, the analyst stated that Dogecoin is “a stronger cryptocurrency and ready to take over the world.” Like James, so do cryptocurrency analysts like Kevin Capital and Crypto Kaleo previously predicted that Dogecoin will outperform Bitcoin in this market cycle. Recently, cryptocurrency analyst Master Kenobi did as well it happened again shares a similar sentiment, citing Dogecoin’s historical performance and community-driven momentum as the reason it will outperform the flagship cryptocurrency.

The most crucial meme coin is left behind

Despite these bullish forecasts for Dogecoinit is worth mentioning that the premier meme coin is currently lagging behind the flagship cryptocurrency 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 seen a price raise of over 47%.

What’s more, the flagship cryptocurrency has already been introduced highest level ever (ATH) in this running of the bulls. Meanwhile, Dogecoin is still trading 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% decline, there is a possibility that DOGE will continue to lead BTC in this market cycle.

Analysts like Crypto Kaleo, Kevin and Master Kenobi predicted this Dogecoin may reach $1 in this running of the bulls. This means a price raise of over 500% compared to the current price. Therefore, DOGE will likely outperform BTC if it ultimately reaches this target price.

Featured image created with Dall.E, chart from Tradingview.com