Dogecoin flips Ripple (XRP): Is $1 next for DOGE after THIS milestone?
The post Dogecoin flips Ripple (XRP): Is $1 next for DOGE after THIS milestone? appeared on BitcoinEthereumNews.com.
Dogecoin has flipped Ripple to become the 6th largest cryptocurrency by market cap. Discover how this key milestone could propel DOGE towards the $1 mark. Firmly holding the top spot on the daily gainer list with an impressive 23% jump, Dogecoin [DOGE] has hit several milestones in this bull cycle. Recently, DOGE flipped Ripple [XRP] to become the 6th largest cryptocurrency by market cap. Amid post-election hype that has seen capital flow from Bitcoin into alternative assets, DOGE has reaped the most benefits with an over 80% weekly surge, standing strong against its rivals. Additionally, high-profile endorsements from a figure entering the political arena have further fueled DOGE’s momentum. But the question remains: Are these factors enough to spark a parabolic run and push DOGE above $1? If THIS pattern unfolds, Dogecoin could soon hit $1 Historically, DOGE has thrived after each election cycle, with parabolic runs typically materializing about a year later. If this pattern holds, Dogecoin could be poised to hit the $1 benchmark by the first quarter of next year. Source : X This trend is part of a common trading practice where cheaper alternatives like Dogecoin, currently priced at $0.2882, attract more investment compared to higher-stakes assets like Bitcoin, offering a more accessible opportunity for investors. Typically, this shift occurs as the election buzz fades and economic pressures like high interest rates, inflation, and unemployment resurface, prompting investors to move away from Bitcoin. In this climate, many diversify their portfolios into alternative coins, and DOGE has successfully capitalized on this shift. Therefore, it wouldn’t be overly optimistic to expect a repeat of this pattern, where economic uncertainty or a weaker dollar could once again set DOGE up for a bull run next year. Ripple’s defeat shows DOGE is more than just a memecoin Interestingly, a recent…
Filed under: News - @ November 12, 2024 6:18 am