- Dogecoin (DOGE) has surged by over 160% in the past month, reaching a high of $0.4775
- An analyst predicts that Dogecoin could outperform Ethereum (ETH) in the coming months
- The monthly candle in the DOGE/ETH pair chart shows a strong bullish breakout of a trendline
The cryptocurrency market has seen major shifts recently, with assets like Dogecoin (DOGE) and XRP surging while others decline. In particular, Dogecoin has shown impressive momentum that could allow it to outpace even Ethereum (ETH) in the coming months.
Dogecoin’s Recent Gains
Over the past month, Dogecoin has surged over 160%, rising from a low of $0.14 up to a high of $0.4775. At the time of this writing, DOGE trades around $0.4079 after dropping about 3% over the last 24 hours.
Meanwhile, Ethereum has also posted gains, though less dramatic than Dogecoin’s recent run. ETH is up 42% over the last 30 days and currently trades around $358. However, it declined 2.69% over the past 24 hours.
Ethereum Still Dominates Market Cap
Despite Dogecoin’s surge, Ethereum remains far larger by market capitalization. ETH clocks in at $430 billion market cap, cementing its status as the 2nd largest cryptocurrency. Comparatively, Dogecoin’s market cap sits at $59 billion, making it the 7th largest crypto asset.
Analyst Prediction: Dogecoin to Outpace ETH
Given the recent momentum, some analysts predict Dogecoin is primed to outperform Ethereum in the months ahead. Trader Tardigrade points to Dogecoin’s bullish breakout and states:
“Dogecoin could outperform Ethereum in the coming months. November monthly candle in the DOGE/ETH pair chart shows a strong Bullish Breakout of a Trendline.”
If this prediction comes true, it would represent a major shift in the crypto market hierarchy. While Ethereum has long stood as the second largest crypto by market cap, surging interest in Dogecoin could allow the meme coin to leapfrog ETH, at least temporarily.
Conclusion
Dogecoin has shown impressive strength recently even as the broader crypto market sees increased volatility. Its significant gains and bullish technical setup have analysts predicting it will outpace Ethereum in the near future. If interest and momentum continue, DOGE could be poised to climb the market cap charts and cement itself as a top 10 or even top 5 cryptocurrency.
