In a latest tweet, Raoul Pal, the founder and CEO of Real Vision, has underscored Dogecoin’s gains since launch and has made a prediction about DOGE, comparing it to the performance of Bitcoin.
He has noted the incredible performance of DOGE which even outperformed Bitcoin in terms of percentage gains since its launch. Looking ahead, he believes that DOGE is poised to continue outperforming Bitcoin over time.
He noted- “One of the most WILD things in all of crypto is that DOGE has proven to be harder money than BTC and has outperformed by 550% since launch (10 years!) and looks like it might even continue to outperform over time! What a time to be alive…”
He also shared a Dogecoin vs BTC chart which highlights two channel patterns. Notably, the first channel resulted in a breakout and presently the second channel is gearing up for a breakout which could lead Doge to advance against Bitcoin in the days to come.
DOGE’s Impressive Performance
The coin has been achieving heights in this bull run with the price rise continuing over the weekend. It reached a new yearly high of $0.48 on November 23 before retreating fueled by growing speculation around Elon Musk’s X platform. The price surge came amid rumors that Dogecoin could play a key role in Musk’s potential “X Payments” system, drawing significant attention from investors.
Furthermore, Dogecoin also reached a high of $0.0000049 in its Bitcoin pairing, which was a level not seen since December 2022. Remarkably, Dogecoin’s monthly gains are a whopping 210% compared to Bitcoin’s gain of 45% in the same time period.
Analysts Optimistic Over DOGE
The increase in Dogecoin’s value saw a steady rise that had begun before the Nov. 2024 election, which was more evident in the later days. Analysts have highlighted that the technical indicators suggest the price could continue to climb and Dogecoin could hit between $0.65 and $1.25, depending on market conditions.
Another analyst, Tardigrade, predicted that Dogecoin might reach $1 by the end of Q1 2025, and possibly hit long-term targets of $2.90 to $3.60. Over the weekend, Ali Martinez, a crypto analyst, has predicted a breakout target of $0.82 for Dogecoin.
In a recent interview, Arthur Hayes predicted that Bitcoin will reach $100,000 by the end of 2024. As reported by Wu Blockchain, Arthur Hayes predicted in a recent podcast that Bitcoin will reach $100,000 by the end of this year and it may reach a massive $250,000 by the end of 2025. He also touched down on Dogecoin, noting that it could reach $1 soon.
