‘This Is A Very Good Sign’ By Benzinga

Benzinga – Kevin is a crypto trader. Dogecoin’s Performance against (CRYPTO: DOGE) Bitcoin (CRYPTO: BTC), pointing to the cryptocurrency’s entrenchment in pockets of gold and its position in a bull market even with rising moving averages.

what happened: On Tuesday, Kevin, formerly known as OG_Yomi On X, posted an analysis of the #Dogecoin vs #BTC chart. He observed that Dogecoin is currently entrenched in a golden pocket while remaining at the top of an uptrending MA bull market. He expressed optimism that Dogecoin could outperform Bitcoin if it maintains its current position.

SEE ALSO: Bitcoin Halving, Elon Musk’s Dogecoin Tweet, Solana Rise and More: Cryptocurrencies of the Week

Notably, Dogecoin has already surpassed Bitcoin in terms of year-to-date gains. Memecoin has returned 82.8% so far in 2024, while Bitcoin has returned 57.5% over the same period.

Why it’s important: Kevin’s tweet comes in the wake of a recent Benzinga article in which Yomi shared insight on Dogecoin’s expected golden cross. Despite two consecutive red weeks causing a slight divergence, cryptocurrencies are trending higher with just a few weeks left to reach this bull market milestone.

Third Party Advertisements. It is not an offer or recommendation by Investing.com.See disclosure here or
remove ads
.

Furthermore, as noted in a Benzinga report, anonymous cryptocurrency trader Vapor recently predicted that at least three meme coins will achieve market caps of over $100 billion. Memecoin’s growing prominence in the digital asset space underscores Kevin’s bullish outlook on Dogecoin.

Price action: As of press time, Dogecoin is trading 1.9% higher at $0.16, while Bitcoin is trading 0.2% lower at $66,613.80, according to data from Benzinga Pro.

Photo credit: Shutterstock.com

Read next: Dogecoin and Elon Musk in animation, but this trader suggests shorting DOGE at $0.18 to $0.20

Designer

Benzinga Neuro, Edited

Shivdeep Dhaliwal

The GPT-4-based Benzinga Neuro content generation system

Extensive Benzinga ecosystem including native data, APIs, and more

Create stories that are inclusive and timely.

learn more.

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Related Article

0 Comments

Leave a Comment