Dogecoin Bullish Takeover: DOGE Will Outperform Bitcoin by 2,400

Dogecoin has had one of the most profitable Novembers in history, rising over 150% in the last 30 days. However, the performance of this meme coin has slowed down slightly in the past week, struggling to reach the psychological level of $0.45. Nevertheless, a famous analyst on platform X has said that the price of Dogecoin will not be consolidated, with a breakout imminent. In fact, this meme token is being touted as superior to Bitcoin, the world's largest cryptocurrency by market capitalization. How Dogecoin Can Outperform Bitcoin In a recent post on platform X, renowned analyst Ali Martinez made a prediction that the price of Dogecoin will rise against Bitcoin in the coming months. According to this expert, this meme coin will outperform the leading cryptocurrency by up to 2,400%. The basis behind this forecast is the formation of a flag pattern on the Dogecoin price chart over a monthly time frame. The flag pattern is a technical analysis pattern characterized by a strong price increase phase (flagpole) and a short consolidation or mild downward trend phase (flag). Typically, the flag pattern serves as a strong continuation signal for an uptrend. However, a breakout from the flag (or consolidation range) is a prerequisite to confirm the continuation of the uptrend.

As observed in the chart, the price of Dogecoin versus Bitcoin has mostly been moving sideways since 2021. However, DOGE/BTC seems to be breaking out of the consolidation range at the current time, indicating that the current market trend continues. According to Martinez, if the price of Dogecoin compared to BTC successfully breaks through the upper boundary of the flag, the price could surge over 2,400%. The target of this forecast is calculated using the original flagpole as a template, as its breakout often repeats its length. Finally, this will push the value of DOGE against BTC from the current level of 0.0000043 to an unprecedented level of 0.00009375. Such a significant increase in Dogecoin's price will also support many predictions of an altcoin season before the current cycle ends. Overview of DOGE Price Overview As of the time of writing, Dogecoin is valued at $0.4246, reflecting a modest 1.2% increase over the past 24 hours. The price performance of this meme coin is equally significant on a weekly basis. According to data from CoinGecko, the price of DOGE has decreased by 1.7% in the past seven days. This meme token is ranked as the seventh largest asset in the industry, with a market capitalization of $62 billion.