Dogecoin to Become the Hardest Money Ever? This Analyst Thinks So

Raoul Pal has predicted that Dogecoin (DOGE) could surpass Bitcoin and become the hardest money ever created.

He argued that Dogecoin’s historical performance against Bitcoin supports this claim.

Despite skepticism, Pal remains confident that the meme coin will dominate the cryptocurrency market in the future.

Raoul Pal’s Bold Prediction on Dogecoin Price

Raoul Pal, CEO of Global Macro Investor, has made an unexpected claim about Dogecoin.

According to him, Dogecoin holds the best chart among all cryptocurrencies and will rise above Bitcoin in value.

The future breakout against Bitcoin will transform Dogecoin into the toughest existing currency, according to Pal.

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Since its inception Dogecoin has achieved extraordinary growth according to Pal, surpassing the performance of Bitcoin.

Dogecoin has grown 500% more than Bitcoin during its entire time in existence, according to him.

The numerical data indicates that Dogecoin may develop into a stronger digital currency than Bitcoin, based on Pal’s observation.

His belief is based on the remarkable growth demonstrated by Dogecoin because its increases outdid Bitcoin’s return on investment.

Bitcoin has experienced an increase of 7.862% since Dogecoin began trading, but Dogecoin has reached a growth rate of 461.407%.

The market information leads Pal to predict that Dogecoin might reshape the entire cryptocurrency sector.

Critics Question Dogecoin’s Unlimited Supply

Dogecoin entered the market in December 2013 at a price of $0.00056.

DOGE has registered a booming growth since its initial launch, which has resulted in its current market price.

Bitcoin started its value at $1,210 when Dogecoin launched and now holds a much higher position, though its growth has been slower.

The limited supply alongside a powerful network effect gives Bitcoin its position of dominance in the market.

Dogecoin demonstrates steady improvement in value compared to Bitcoin, according to market data.

Pal expects Dogecoin’s community-based popularity to enable it to compete against Bitcoin for dominance.

Critics allege that Dogecoin’s unlimited supply makes it an inferior choice for value storage.

Investors express doubts regarding its inflationary features since its supply does not have a fixed limit like Bitcoin’s.

Because of these underlying elements, the ongoing discussion about Dogecoin surpassing Bitcoin exists.

Key Resistance Level Crucial for Recovery

Dogecoin’s price has faced recent bearish pressure, dropping 2.92% to $0.25647.

The Bollinger Bands indicate high volatility, with the price hovering near the lower band at $0.21336.

If this trend continues, further downside movement remains possible.

The 200-day Exponential Moving Average at $0.26130 is a crucial resistance level. Dogecoin must reclaim this zone to signal a potential recovery.

The Relative Strength Index at 36.75 suggests oversold conditions, which could lead to a price bounce if buying pressure increases.

The Moving Average Convergence Divergence (MACD) indicator currently signals weakness.

The MACD line remains below the signal line, and the negative histogram suggests continued bearish momentum.

If selling pressure persists, Dogecoin could test the $0.21 support zone before any potential rebound.

Pal’s theory on Dogecoin’s dominance remains controversial within the crypto space. While historical data shows Dogecoin’s strong performance, concerns over its supply dynamics persist.

The coming months will determine whether Dogecoin can sustain its upward trajectory and challenge Bitcoin’s reign.