- Raoul Pal believes Dogecoin’s growth will continue to surpass Bitcoin’s, calling DOGE “harder money” and highlighting its 550% outperformance since launch.
- Dogecoin’s price surge, fueled by speculation and strong market sentiment, has analysts predicting a breakout to $0.82, with long-term targets of $1.25 or more.
Dogecoin’s impressive track record, outperforming Bitcoin by 550% since its launch a decade ago, was recently brought to our attention by Raoul Pal. After discussing Dogecoin and Sui in his ‘Banana Rotation’ market outlook, as reported in a CNF update, Pal called DOGE “harder money” than Bitcoin, believing the meme coin will likely continue surpassing Bitcoin’s growth.
In his recent tweet, Pal further expressed his view, stating that 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 and looks like it might even continue to outperform over time.
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 to continue to outperform over time! What a time to be alive… pic.twitter.com/3EXQFEzPsb
— Raoul Pal (@RaoulGMI) November 24, 2024
He shared a DOGE-to-BTC chart showing two bullish channel patterns, with the current one poised for a breakout, signaling further potential gains against Bitcoin.
Dogecoin Rides Bullish Momentum
DOGE’s price surge has drawn investor attention, hitting a yearly high of $0.48 on November 23 before slight retracement. Speculation about its possible integration into Elon Musk’s “X Payments” system has fueled enthusiasm.
The coin also achieved a high of 0.0000049 BTC, levels not seen since late 2022, with monthly gains of 210%, far outpacing Bitcoin’s 45% rise.
Analysts Project Bright Future for DOGE
Crypto experts are optimistic about Dogecoin’s trajectory. Ali Martinez predicts a breakout to $0.82, while Tardigrade anticipates $1 by Q1 2025 and long-term targets as high as $3.60. Market conditions could push DOGE’s price to $0.65-$1.25 soon.
However, at the time of writing, Dogecoin (DOGE) is trading at $0.3693, with a decrease of 12.76% in the past day and 5.17% in the past week. As Dogecoin continues to capture attention, analysts suggest its bullish momentum is far from over.
