Crypto trader Kevin has expressed his positive outlook on the performance of Dogecoin (DOGE/USD) against Bitcoin (BTC/USD), highlighting the cryptocurrency’s consolidation in the golden pocket and its position above all bullish market trending moving averages.

On Tuesday, Kevin, previously known as OG_Yomi On X, shared his analysis of the #Dogecoin vs #BTC chart. He noted that Dogecoin is currently consolidating in the golden pocket while maintaining its position above all bullish market trending moving averages. He is optimistic about Dogecoin’s potential to surpass Bitcoin if it continues to hold its current position.

It is noteworthy that Dogecoin has already surpassed Bitcoin in terms of year-to-date gains, with the meme coin achieving a 82.8% increase in 2024 compared to Bitcoin’s 57.5% return during the same period.

Kevin’s assessment follows a recent Benzinga article where Yomi discussed Dogecoin’s anticipated Golden Cross. Despite experiencing two consecutive weeks of decline, the cryptocurrency is still a few weeks away from reaching this significant bullish market milestone.

Additionally, a pseudonymous cryptocurrency trader named Vapor has predicted that at least three meme coins will attain a market capitalization exceeding $100 billion, as reported by Benzinga. This trend of meme coins gaining prominence in the digital asset sphere aligns with Kevin’s optimistic stance on Dogecoin.

As of the latest data from Benzinga Pro, Dogecoin is trading 1.9% higher at \(0.16, while Bitcoin has experienced a 0.2% decrease, trading at \)66,613.80.

The content was engineered by Benzinga Neuro and edited by Shivdeep Dhaliwal.

Disclaimer: This content is generated by the GPT-4-based Benzinga Neuro system, leveraging the Benzinga Ecosystem for comprehensive and timely storytelling. Benzinga does not offer investment advice. All rights reserved. © 2024 Benzinga.com.