Dogecoin Could Outperform Bitcoin Thanks To Consolidation In The Golden Pocket, Says Trader: 'This Is A Very Good Sign'

Benzinga Neuro

April 23, 2024

Crypto trader Kevin has shared his bullish outlook on Dogecoin’s (CRYPTO: DOGE) performance against Bitcoin (CRYPTO: BTC), noting the cryptocurrency’s consolidation in the golden pocket and its position above all bull market up trending moving averages.

What Happened: On Tuesday, Kevin, formerly known as OG_Yomi On X, posted his analysis of the #Dogecoin vs #BTC chart. He observed that Dogecoin is currently consolidating in the golden pocket while sitting above all bull market up trending MA’s. He expressed optimism about Dogecoin’s potential to outperform Bitcoin if it can maintain its current position.

If we take a close look at the #Dogecoin vs #BTC chart we're currently consolidating in the golden pocket while sitting above all bull market up trending MA's. This is a very good sign if we can hold it in terms of seeing #DOGE out performing BTC from here on out. Send this dogâ€¦ pic.twitter.com/Nvd2LBzETu
— Kevin (@Kev_Capital_TA) April 24, 2024

See Also: Bitcoin Halving, Elon Musk’s Dogecoin Tweet, Solana’s Rise And More: This Week In Cryptocurrency

Notably, Dogecoin has already outperformed Bitcoin in terms of year-to-date gains. The meme coin has given 82.8% gains so far in 2024, while Bitcoin has returned 57.5% in the same period.

Why It Matters: Kevin’s tweet comes in the wake of a recent Benzinga article in which Yomi shared his insights on Dogecoin’s anticipated Golden Cross. Despite two consecutive red weeks causing a slight deviation, the cryptocurrency is still several weeks of upward price action away from achieving this bull market milestone.

Moreover, a pseudonymous cryptocurrency trader, Vapor, recently predicted that at least three meme coins will achieve a market cap above $100B, as noted in a Benzinga report. This growing prominence of meme coins in the digital asset space underscores Kevin’s bullish outlook on Dogecoin.

Price Action: At the time of writing, Dogecoin traded 1.9% higher at $0.16, while Bitcoin was down by 0.2% at $66,613.80, according to data from Benzinga Pro.

Photo Courtesy: Shutterstock.com

Read Next: Dogecoin And Elon Musk In One Animation But This Trader Suggests To Short DOGE At $0.18 To $0.20

Engineered by Benzinga Neuro, Edited by Shivdeep Dhaliwal

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

Recommended

Is This Nvidia's Secret Weapon? - Ad

One Coin to Rule Them All... - Ad

America Just Hit a Grim Milestone - Ad

Anthony Scaramucci has characterized the ongoing Donald Trump hush money trial as a test of loyalty for Republican officials.

Trump Vs. Biden: 2024 Election Poll Shows Tie Broken -- Which Candidate Gains Support From His Party, Independent Voters?

A new 2024 election poll shows a close race between Donald Trump and Joe Biden. One candidate gained ground with their party and Independent voters.

America Has New Type of Money, Making Some Rich...Should You Get It?

America Has New Type of Money, Making Some Rich...Should You Get It? - Ad

One of America's most controversial CEOs says, "A new form of money in America is making some people (including Elon Musk, Jeff Bezos, and 17 of America's 25 wealthiest individuals), rich. It has nothing to do with gold, bitcoin, or anything like that, but it's 100% legal. The problem? Few Americans have a real understanding of how it works.

Marjorie Taylor Greene Accused Of Racist Behavior By Jasmine Crockett Over 'Fake Eyelashes' Comment

Crockett accuses Greene of racism over fake eyelashes taunt during a hearing. Crockett says Greene has not attacked other colleagues' appearances.

After Elon Musk, Argentina's President Milei To Meet Mark Zuckerberg And Other Tech Leaders In Silicon Valley: Report

Argentine President Javier Milei is planning to meet top tech executives in Silicon Valley, including Mark Zuckerberg, OpenAI and others.

Could Elon's New Device be Bigger than the iPhone?

Could Elon's New Device be Bigger than the iPhone? - Ad

According to 30-year Silicon Valley and Wall Street veteran, Eric Fry... A man who picked 41 plays that jumped 1,000%+... This mind-blowing new technology could be bigger than the iPhone. And it could make a lot of people wealthy in the coming months and years.

One Tech Tip: Protecting your car from the growing risk of keyless vehicle thefts

LONDON (AP) — They appear like ghosts in the night, standing outside your house, one holding up an antenna while the other crouches next to the car parked on the driveway. Within seconds, your car is gone, yet another victim amid enabled by the technology designed to make it easier to unlock and start vehicles.

Snowflake Analysts Remain Overweight: Potential Growth Despite Iceberg Adoption Concerns

Piper Sandler analyst attended Virtual Iceberg Summit with tech giants. Snowflake seen as having potential drag on growth, but threat may be overstated.

AI & Crypto in One $11 Investment

AI & Crypto in One $11 Investment - Ad

Right now, you can harness the power of two bull markets... Artificial intelligence and cryptos...In one simple $11 investment.

Dogecoin Rises 4.45% Amidst Anonymous 120 Million DOGE Transfer To Robinhood

A transfer of 120 million Dogecoin (CRYPTO: DOGE) to the trading platform Robinhood has coincided with a 4.45% surge in the price of the meme crypt

What's Going On With Palantir Technologies Stock Today?

Last week, Palantir Technologies reported strong Q1 results, beating revenue estimates and delivering six straight quarters of GAAP profitability. It also raised its full-year guidance and aims to be the dominant AI infrastructure in the market.

Elon's New A.I. Device is About to Shock the World

Elon's New A.I. Device is About to Shock the World - Ad

Using this device you see... Elon Musk just tested a new type of A.I. that according to Wired Magazine will usher in... "The next step in human evolution."

Taiwan is selling more to the US than China in major shift away from Beijing

WASHINGTON (AP) — Whether it's tapioca balls or computer chips, Taiwan is stretching toward the United States and away from China — the world's No. 2 economy that threatens to by force if necessary.

Retail Trading Legend Roaring Kitty Returns After Three Yearsâ€”Can He Spark Another Frenzy?

Keith Gill, better known by his online aliases Roaring Kitty and DeepF**kingValue (DFV), has re-emerged on social media after a three-year hiatus.

PASSIVE INCOME (by this evening)

PASSIVE INCOME (by this evening) - Ad

Hey, I have an unique opportunity for those looking for additional ways to earn income right now. It can be done from home. You can do it in your spare time. And it only takes 6 clicks and as little as $50.

US prisoners are being assigned dangerous jobs. But what happens if they are hurt or killed?

PHOENIX (AP) — Blas Sanchez was nearing the end of a 20-year stretch in an Arizona prison when he was leased out to work at Hickman’s Family Farms, which sells eggs that end up in the supply chains of huge companies like McDonald’s, Target and Albertsons. While assigned to a machine that churns chicken droppings into compost, his right leg got pulled into a chute with a large spiraling augur.

Donald Trump Says He's Not Concerned About His Legal Challenges: 'In A Way, I Don't Care ... Life Is Life'

In a recent private donor event in Florida, former President Donald Trump appeared unfazed by his ongoing legal issues.

Forget AI, Imperium Is Expected to Grow 320,000% In 3 Years

Forget AI, Imperium Is Expected to Grow 320,000% In 3 Years - Ad

Three of the world's biggest AI companies -- Google, Nvidia and Intel -- have even partnered with my No. 1 Imperium company to get on this massive mega trend. The average investor hasn't caught on yet, but you can still invest in my No. 1 Imperium company for just $10 a share.

NOT REAL NEWS: A look at what didn't happen this week

A roundup of some of the most popular but completely untrue stories and visuals of the week. None of these are legit, even though they were shared widely on social media. The Associated Press checked them out.

Buffett Says No Other Americans Would Have Had To Pay Even A Dime In Federal Taxes If This Had Happened

Warren Buffett suggests that federal taxes will likely increase given the country's precarious fiscal position, and he expressed Berkshire's willingness to cover the tax bill it faces.

Should You Buy Bitcoin in 2024? [Expert's Shocking Answer]

Should You Buy Bitcoin in 2024? [Expert's Shocking Answer] - Ad

Bitcoin minted 100,000 millionaires and if you're not one of them, that ship has sailed. But there's another millionaire-minting crypto at our doorstep... research shows this coin could be 20X bigger than Bitcoin by the end of the decade. With crypto starting to heat up again, this could be the perfect time to get in.

Palantir, Boeing, Lucid Group, Hims & Hers, Tesla: Why These 5 Stocks Are On Investors' Radars Today

On Monday, major U.S. stock indexes experienced gains, with the S&P500 closing nearly 1% higher at 5,180.74

Trump Meets With DeSantis, Noem Stirs Up Controversy: How Will Republican Vice President Betting Odds Be Impacted?

The relationship between Donald Trump and Ron DeSantis was heated at times during the Republican primary season, before the Florida governor dropped out of the 2024 presidential election and threw his support behind the

Amazon's Betting Big on This Unknown AI Company

Amazon's Betting Big on This Unknown AI Company - Ad

Amazon has just made a stunning $144 million investment in one small AI company. Why? Because this under-the-radar firm holds the key to unleashing the full potential of next-gen AI... Its technology is crucial for the most advanced AI chips, including Nvidia's latest breakthrough.

How to design a volunteering program in your workplace

More workplaces are bolstering their volunteer programs, especially as employee demands grow for socially responsible employers and engagement. Nearly three in five companies surveyed by the Association of Corporate Citizenship Professionals reported last year.

If You're Getting Tired Of Crypto, Here's Why: Mad Crypto Alpha With Ivan

gm, I’m Ivan and welcome to my weekly column Mad Crypto Alpha.

READ THIS If You Missed Out on the AI Boom

READ THIS If You Missed Out on the AI Boom - Ad

Radical new biotechnology predicted to grow 320,000% in 3 years. Nvidia's CEO calls it "the next amazing revolution." And one small company poised to dominate this revolution trades for just $10.

Bitcoin 'Could Still Have A Correction Down,' Cautions Lark Davis: 'Let's Not Get Ahead Of Ourselves'

In his latest podcast update, cryptocurrency trader Lark Davis previewed what could lay ahead for Bitcoin (CRYPTO: BTC) and different altcoins

Elon Musk Shares Who He'd Want To Spend His Last Moments With In Response To Warren Buffett's Advice

Over the weekend, Elon Musk agreed with a sentiment shared by investment titan Warren Buffett about the importance of spending time with loved ones, despite their contrasting investment philosophies.

Earn Instant Cash Flow (using THIS tactic)

Earn Instant Cash Flow (using THIS tactic) - Ad

Can you imagine earning $1,118,721/hr? That's what greedy Wall Street elites have been pocketing for 22 straight years. And now it's available to you.

Google Seeks To Repeat Chromebook Success In Education By Rolling Out 'Gemini' AI For Schools, Promises Enhanced Data Privacy

Google is set to introduce its Gemini AI to schools with enhanced data privacy protections, ensuring that educational data is not used for AI training or shared with third parties.

Stock market today: Asian shares are mixed as China stocks get bump from new property measures

Asian shares were mixed on Friday, with Chinese stocks reversing earlier losses following the announcement of to revive the ailing property market.

Mystery of the Rich and Connected Revealed

Mystery of the Rich and Connected Revealed - Ad

Former Goldman VP reveals a mysterious "Gold Bank" with huge upside potential... Last time we shared this, some folks could have seen a 995% gain. Don't be surprised if you've never heard of this -- most haven't. But he's sharing all in this new video.

Binance founder Changpeng Zhao faces sentencing; US seeks 3-year term for allowing money laundering

SEATTLE (AP) — Changpeng Zhao, the founder of Binance, the world's largest cryptocurrency exchange, faces sentencing Tuesday in a Seattle courtroom, where U.S. prosecutors are asking a judge to give him a three-year prison term for allowing rampant money laundering on the platform.

Trump Vs. Biden: New Swing State Poll Reveals Winner, One Key 2024 Election Issue Could Influence Result (Updated)

A new 2024 election poll of swing state voters shows Donald Trump with a commanding lead. One key factor could be determining the race in these markets.

5 Wall Street Legends Just Bought This One Stock

5 Wall Street Legends Just Bought This One Stock - Ad

"If you're not at the table, you're on the menu," says former Goldman Sachs VP, Dr. David Eifrig.

Demand Soars For Novo Nordisk's Weight-Loss Drug Wegovy Despite Supply Constraints And Eli Lilly Competition

The Danish pharmaceutical company is now shipping more introductory doses of Wegovy to the U.S., as it grapples with supply constraints and competition from Eli Lilly.

Nvidia, MicroStrategy, Cisco, Chubb, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Major U.S. indices surged on Wednesday, with the Dow Jones Industrial Average climbing 0.9% to 39,908, the S&P 500 increasing almost 1.2% to 5,308.15, and the Nasdaq rising 1.4% to 16,742.39. These are the top stocks that gained the attention of retail traders and investors throughout the day:

The Mysterious Tale of "America's No. 1 Retirement Stock"

The Mysterious Tale of "America's No. 1 Retirement Stock" - Ad

This factory of 53,000 employees, in Burbank, CA, was camouflaged to look like a sleepy suburb (with the help of artists, set designers, and painters from nearby Hollywood movie studios). The mysterious company behind this disappearing act is now being called "America's No. 1 Retirement Stock".

Stock Market Rally For 2024 Has Peaked, Goldman Sachs Forecasts 'Flat Return From Now Till The End Of The Year'

The stock market rally for 2024 has reached its peak, according to Goldman Sachs. The firm's chief U.S. equity strategist, David Kostin, has predicted a flat return for the S&P 500 for the remainder of the year.

Trending Now

Bitcoin, Ethereum, Dogecoin Rally Amid $1.3B In ETF Inflows In 2 Weeks: 'Fair To Assume That The Way To $80K Is Now Open?,' Trader Asks

Mohamed El-Erian Says Bond And Equity Prices Getting A Boost After Softer-Than-Expected Headline CPI Numbers And Fueling 'Hopes For An Earlier Interest Rate Cut'

Elon Musk Fired Supercharger Chief Rebecca Tinucci And Her Entire Team After She Refused To Lay Off More Workers Than Planned: Report

Jim Cramer Advises Investors To Stick With Good Companies Despite Short-Term Losses: 'You Just Need To Figure Out Which Companies Deserve Your Confidence'