Dogecoin (DOGE) is gaining much attention as experts speculate it will surpass industry titans like Bitcoin (BTC) and XRP.
During bull markets, Dogecoin has shown remarkable performance, and because of Elon Musk’s influence on the market, this token may see a drastic change in its course in the coming months, stated WIZZ, a cryptocurrency analyst.
Will Elon Musk Change The Game?
Musk’s involvement in the meme coin has caused previous price jumps in Dogecoin. WIZZ maintains that Musk’s upcoming ventures; including those of the upcoming Trump administration may thrust DOGE past other major altcoins. In light of surging interest into Musk’s endeavors, many in the digital currency scene are seeing a similar frenzy as his past sponsorships set off waves.
One interesting fact has been Musk supposedly heading the “Department of Government Efficiency” during the Trump administration. Whether such an association could be purely by coincidence, cryptophiles say it’s just the opportunity in which the life of the coin is to be sparked.
$DOGE will outperform most majors the coming 3/6 months
U heard it here
Elon marketing starts soon.
— WIZZ ( beware scammers ) (@CryptoWizardd) January 6, 2025
Dogecoin: Historical Performance
The explosive nature of Dogecoin can’t be denied, if we are to base its price action on historical trends. Analyst Ali Martinez found that during the 2020–2021 bull market, DOGE increased by more than 15,000. If history repeats itself, its token might reach a height of $23 or $1 to $3.
Dogecoin is selling at about $0.33 right now. It has been going down a little, and it retreated by 2.40% in the last 24 hours. But some strong fundamentals and community support should be enough to give the meme coin some vigor in the months ahead. Based on data from CoinCodex and IntoTheBlock, there is more action on the blockchain, which suggests that investors are once again getting interested in DOGE.
Does Dogecoin Have The Wherewithal To Compete With Bitcoin & XRP?
Both Bitcoin and XRP have strengthened their positions in the market. Bitcoin is leading the way in institutional adoption, while XRP focuses on cross-border payment options. Dogecoin, on the other hand, gets a lot from both its active community and Musk’s support.
Although outperforming Bitcoin and XRP is a daring forecast, Dogecoin has a track record of exceeding expectations.
WIZZ’s claim matches some predictions that Dogecoin will thrive in the coming market cycle. These estimates emphasize Musk’s impact and the token’s investment appeal.
Will DOGE Fail Or Succeed?
Dogecoin may succeed, but the cryptocurrency industry is volatile. Even major past achievements does not guarantee future success. Investors should diversify, educate themselves, and weigh the risks.
Dogecoin may not outperform Bitcoin and XRP. However, its ability to upend the cryptocurrency hierarchy ensures its continued prominence in 2025.
Featured image from Pintu, chart from TradingView
Source: NewsBTC