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Crypto Analyst Says Dogecoin Is The Best Cryptocurrency, Here’s Why

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Dogecoin, which started as a joke, has long been the undisputed king of meme coins and has garnered a huge following since its creation. In a recent analysis shared on the social media platform X, crypto analyst Master Kenobi presented a compelling case for Dogecoin as a superior cryptocurrency compared to Bitcoin. 

Exceptional Historical Performance Compared To Bitcoin

Bitcoin, the world’s largest crypto asset, has outperformed every other asset in traditional finance in the last decade since its creation. However, as Master Kenobi pointed out, Dogecoin has indeed outperformed Bitcoin since its launch date. 

Master Kenobi noted that since its inception on December 8, 2013, Dogecoin has experienced a remarkable growth of approximately 883,920% up to its all-time high. In contrast, Bitcoin’s growth during the same period stands at about 17,234%. This significant outperformance underscores Dogecoin’s potential as a high-yield investment.

Unlike Bitcoin’s capped supply, DOGE employs a fixed inflation model, introducing around 5 billion new coins annually. Some might see this inflationary trend as negative for Dogecoin, but proponents of the meme coin have always emphasized that it is a needed feature. According to Kenobi, with DOGE’s total circulating supply currently above 140 billion DOGE, the annual issuance is now mostly negligible, and its effect will continue to decrease with time. Furthermore, the Dogecoin adoption rate has even far outpaced its inflation rate.

Lastly, the analyst highlighted the current low price of Dogecoin as one of its biggest advantages it has over Bitcoin. The relatively low price per DOGE unit makes it attractive to retail investors, who can acquire thousands of DOGE for the cost of a fraction of a Bitcoin. Bitcoin, on the other hand, is now being perceived more as an instrument for institutional investors due to its currently high price.

This affordability, combined with Dogecoin’s strong community and meme culture, makes it more appealing as an accessible cryptocurrency.

Current State Of Dogecoin

At the time of writing, Dogecoin is trading at approximately $0.38, with a 24-hour trading volume of $10.56 billion and a market capitalization of $55.8 billion. DOGE, which recently traded at $0.42 for the first time in two years, now finds its price correcting since October 13, having reached a low of $0.356 in the past 24 hours. 

Nonetheless, Dogecoin has maintained gains over both seven-day and 30-day periods, indicating a bullish trend. As such, the meme coin is definitely on track to end the month at a bullish close. There is also the possibility of reaching a new all-time high above $0.73 before the end of 2024. This optimism is partly fueled by the recent US presidential election, where President-elect Donald Trump has expressed a favorable stance toward cryptocurrencies.

Dogecoin price chart from Tradingview.com
DOGE price shows recovery potential | Source: DOGEUSDT on Tradingview.com

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



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BTC, XRP, & Dogecoin Steal Spotlight

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The global crypto realm has closed another week, with remarkable advancements witnessed across the broader sector. Bitcoin (BTC) price pumped to attain a new ATH, whereas the broader market mirrored optimism. Simultaneously, Ripple’s XRP achieved unprecedented levels, sparking market discussions. Moreover, Dogecoin echoed optimism across the broader market amid D.O.G.E-related developments.

Here’s a brief report on some of the top crypto market headlines reported by CoinGape Media in the past seven days.

Bitcoin Hits New ATH Amid Crypto Bull Market

Notably, this week saw BTC price attain a new height of $93,434.36, sparking a tidal wave of optimism among market investors. The coin soared in tandem with increased institutional interest post-U.S. elections, as seen with Bitwise hitting $10 billion in client assets under management.

Further, amid the flagship crypto’s bullish movement, top trader Peter Brandt and investment firm Bernstein predicted BTC price rally to $200K. However, it’s also noteworthy that BTC witnessed slight turbulence this week, attributable to macroeconomic events.

The US CPI inflation rose to 2.6%, raising investor concerns over future movements. Nevertheless, the market closes this week in a bullish state.

XRP Gains Momentum

Simultaneously, XRP price extended weekly gains to 93%, solidifying investor optimism on the asset. Ripple CEO Brad Garlinghouse took the stage to reveal key reasons behind the coin’s strong rally this week, pointing out the post-election environment as a pro-cryptocurrency era.

Also, with speculations of SEC Chair Gary Gansler’s resignation on the rise, market sentiments for Ripple’s coin remain optimistic. Meanwhile, the XRP documentary premiered this week, garnering additional market attention toward the crypto.

Dogecoin Gains Traction Amid D.O.G.E. Saga

Simultaneously, DOGE price extended weekly gains to 54% over the past seven days, primarily attributable to Elon Musk’s D.O.G.E’s saga post-U.S. elections. The American entrepreneur was appointed as the Department of Government Efficiency head alongside V. Ramaswamy under Trump’s cabinet, bringing significant attention to Dogecoin.

On the other hand, with the Dogecoin lawsuit against Elon Musk withdrawn, market sentiments orbiting the meme token remain bullish. Simultaneously, CoinGape Media reported DOGE whale accumulations to have burgeoned substantially this week. Also, the leading DOGE wallet, MyDoge, announced the launch of DogeOS shortly afterward.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC Slips to $90K, XRP Rally, Meme Coins Fall

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Cryptocurrency Prices Today: Bitcoin fell below $90K, trading within the range of $87,500 to $93,000 for the past four days. Meanwhile, XRP price broke above $1 after a more than 25% upside in a day, hitting a two-year high. The Meme coins sector saw massive selloffs, with PNUT price dropping by 15%. NEIRO, MOG and POPCAT, PEPE prices tumbled 6-13%.

The global crypto market cap jumped 0.28% to $3.04 trillion, but total crypto market volume dropped by 10% amid selling by traders.

Here’s a brief overview of some of the top cryptocurrencies by market cap and their price movements on November 17.

Cryptocurrency Prices Today: BTC and XRP Hold Market Gains

Bitcoin is trading at $90,416, maintaining its recent strength, While Ethereum (ETH) has declined by 1.81% from yesterday, Solana (SOL) surged, gaining 5.27% and diverging from ETH’s movement.

XRP became the top performer among the leading cryptocurrencies, rising by 12.43%. This boost added to the overall bullish market sentiment.

Bitcoin Price Today

Bitcoin (BTC) is trading at $90,416, reflecting a 0.80% decrease from the previous day. Over the past 24 hours, BTC low and high ranged between $89,417 and $91,763, respectively. Bitcoin market cap stands at $1.79 trillion, with a market dominance of 59.19% and a trading volume of $44 billion.

In an interesting development, a Satoshi-era Bitcoin whale has earned $180 million after holding BTC for 14 years. This impressive gain underscores the remarkable returns that early adopters of Bitcoin have achieved over time.

Ethereum Price Today

Ethereum (ETH) has declined by 1% and is currently trading at $3,122. Its 24-hour low and high ranged between $3,039 and $3,218. Ethereum’s market cap now stands at $371 billion, with a market dominance of 12.31%, and a trading volume of $28 billion in the past 24 hours.

Analysts expect Ethereum price to break through the $4,000 mark, as it remains tightly bound below this critical resistance level.

Solana Price Today

Solana (SOL) has increased by 5.61% over the last 24 hours, with its price now at $233. The coin’s daily low and high have been $212 and $235, respectively. With a current market cap of $110 billion, Solana ranks as the fourth-largest cryptocurrency by market capitalization.

Technical indicators suggest a positive outlook for Solana, with many analysts forecasting a potential rise toward the $1,000 mark in the near future. The coin’s strong performance is seen as a signal of growing investor confidence and interest in Solana’s long-term potential.

XRP Price Today

XRP has rallied impressively, surging 12.3% in the past 24 hours and currently trading at $1.02. The token’s daily low and high were $0.94 and $1.256, respectively, with a substantial 24-hour trading volume reaching $24.05 billion. The price jump today has ranked it as the sixth-largest cryptocurrency by market cap, holding a 2.3% market dominance.

This surge in XRP value comes as the U.S. embraces a more crypto-friendly stance, with plans to support American-origin cryptocurrencies. Additionally, Ripple whales are actively buying after a strong breakout amid a favorable outlook.

Meme Crypto Prices Today

Dogecoin (DOGE) is down by 6.95% and trading at $0.351 with a 24-hour range of $0.341 to $0.389. DOGE has surged 54% over the past week and has gained an impressive 164% over the past month, making it the seventh-largest cryptocurrency by market cap. This surge is reflective of increased investor interest, with meme coins seeing a resurgence in popularity.

Similarly, Shiba Inu (SHIB) has declined by 5.17% and is currently trading at $0.00002408. Over the past week, SHIB is up by 7%. SHIB’s performance over the last quarter, with an 82.61% increase, signals renewed optimism around this popular token, particularly as interest in meme coins remains high.

Other meme coins have also recorded loss over the past 24 hours. Pepe Coin, WIF and BONK are each down between 3-6%, while SLERF token stands out with a significant 42% increase. These price movements underline the broad interest across meme coins, as they continue to capture the attention of the crypto market.

Top Cryptocurrency Gainers Prices Today

Mantra Price Today

Mantra (OM) token has seen a 35% increase in the past 24 hours, now trading at $2.224. The coin’s 24-hour trading range was between $1.660 and $2.723, showing significant volatility. The continued rise suggests growing demand for Mantra’s platform and services.

Sandbox Price Today

Sandbox (SAND) witnessed a 23% surge in the last 24 hours. The coin is currently trading at $0.3606, with a 24-hour low of $0.2957 and a high of $0.3984. The trading volume saw a 450% jump in the last 24 hours.

Stellar Price Today

Stellar (XLM) is trading at $0.19, reflecting a massive gain with a 24-hour low of $0.133 and a high of $0.2010. The 27% change indicates some volatility, but the coin remained steady.

Top Cryptocurrency Losers Prices Today

Peanut the Squirrel

Peanut the Squirrel (PNUT) has dropped by 15% in the last 24 hours, currently trading at $1.59. Its 24-hour low and high were $1.63 and $1.93, indicating some selling pressure over the past day.

Neiro (First Neiro on Ethereum)

Neiro (NEIRO), the first Neiro coin on Ethereum, is trading at $0.002, down by 2.5% in the last 24 hours. The coin’s range for the day has been between $0.002 and $0.0024.

Dogecoin (DOGE)

Dogecoin (DOGE) has seen a 6% decrease in the last 24 hours, trading at $0.3541. The coin’s 24-hour range is $0.3417 to $0.3899, showing volatility compared to some other assets in the market.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Bitcoin Veteran Who Correctly Called The XRP Price Surge To $3.8 In 2017 Is Back With 30,000% Forecasts – It’s Not For XRP

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A famous bitcoin veteran trader who accurately predicted a 1,900% surge in XRP’s price to $3.8 in 2017 is driving a crazy FOMO among smart crypto investors after forecasting ETFSwap (ETFS) will rally 30,000% from $0.05769 to $15 in December.

Bitcoin Veteran Predicts XRP Price Could Rally To $1.5 Before End Of Year

The XRP price trading at $0.63 has experienced a 7.23% increase following recent predictions from a famous Bitcoin veteran trader for XRP to touch $1.5 before 2024 runs out. 

Analysis from the Bitcoin veteran trader shows XRP price could break out and rally among bullish altcoins, including ETFSwap (ETFS), following BTC, creating a new all-time high of $89,000 in the crypto markets and igniting the 2024 crypto bull run. 

However, the Bitcoin veteran trader has also highlighted XRP price resistances and ongoing legal battles with the Securities Exchange Commission (SEC) as bearish factors that can limit XRP’s potential to rally when compared to ETFSwap (ETFS).

ETFSwap (ETFS) Will Create Millionaires With A 30,000% Mega Price Surge In December, Bitcoin Veteran Reveals

In less than 30 days, ETFSwap (ETFS) will create the next set of crypto millionaires with a 30,000% programmed rally forecasted by a famous Bitcoin veteran trader. According to the Bitcoin veteran, ETFSwap (ETFS), priced at $0.05769 in the bonus round of presale, shows the same bullish signals as XRP price in 2017 before it rallied. The Bitcoin veteran touts ETFSwap’s (ETFS) first feature in the bull run and imminent token launch alongside a groundbreaking DeFi platform as bullish fundamentals that will drive a 30,000% rally of ETFS in December.

ETFSwap (ETFS) has hit a significant milestone with the successful launch of the first phase of its beta platform on Testnet. ETFSwap (ETFS) will launch shortly on Mainnet for user interactions in the coming weeks after the developers thoroughly test its DeFi functionalities. The backend development of the ETFSwap (ETFS) DeFi platform, which has been completed, hosts robust utilities and solutions to scale the profitability of ETF and crypto traders trading in the markets. 

Following the mainnet launch of the DeFi platform, ETFSwap (ETFS) users will pay the cheapest trading fees when buying and selling popular exchange-traded funds (ETFs), including spot Bitcoin, spot Ethereum, bonds, equities, commodities, vanguard, Ishares, and fixed income ETFs among many others. They will also receive mouthwatering trading incentives when they swap the ETFS utility token for other high ROI ETFs and crypto assets on the DeFi platform. A live ETF price tracker will be featured on the DeFi platform for ETF traders to monitor real-time market movements of favorite ETFs. A standout feature of ETFSwap’s (ETFS) groundbreaking DeFi platform is a 100x trading booster that smart traders can use to amplify gains on their ETF trades up to 60,000%. 

ETFSwap (ETFS) users will generate passive income from staking ETFs on the DeFi platform liquidity pools. The DeFi platform will offer competitive ETF staking rewards of up to 87% APR. ETFSwap (ETFS) is a borderless DeFi platform that will support perpetual contracts trading of cryptocurrencies. Crypto traders will trade Bitcoin futures, Ethereum futures, and XRP price futures, among other popular cryptocurrencies. Unlike regular DeFi platforms, ETFSwap (ETFS) will allow traders to open multiple trading positions and take advantage of bullish market trade setups. 

ETFSwap will provide optimal trading liquidity to crypto and ETF traders using its market-making expertise. ETFSwap (ETFS) users will join a tokenization revolution in the crypto industry. They will enjoy unlimited access to tokenize their real-world assets (RWA) using the ETFS DeFi token.  The ETFSwap (ETFS) DeFi platform will guarantee instant settlements to users trading their tokenized assets on-chain. 

ETFSwap (ETFS) will also guarantee top-notch platform security. ETFSwap (ETFS) DeFi platform smart contracts, which the CyberScope security firm has audited, are without vulnerabilities. The smart developers behind ETFSwap (ETFS) DeFi platform development have completed KYC with the SolidProof audit firm.

Conclusion 

ETFSwap (ETFS) 30,000% programmed rally in December, touted by a Bitcoin veteran trader, is the best bet for retail crypto investors looking to make generational wealth in the 2024 crypto bull run. Like XRP price rallies in 2017, ETFSwap (ETFS) will create millionaires.

For more information about the ETFS presale,

Visit ETFSwap Presale

Join The ETFSwap Community

 



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