Dogecoin Outperforms Bitcoin From Here, Says Twitter-Popular Technical Analyst

A Twitter-popular crypto analyst believes that meme cryptocurrency Dogecoin (CRYPTO: DOGE) is poised to outperform apex cryptocurrency Bitcoin (CRYPTO: BTC).

What Happened: The Crypto Dog, who has almost 566,000 followers on Twitter, said he is seeing a positive technical signal that could likely trigger Dogecoin’s next rally after the meme cryptocurrency touched a level of $0.23908 earlier this week.

See also: How To Buy Dogeoin (DOGE)

The trader also said that Terra (CRYPTO: LUNA) has been on a strong uptrend since July and is accelerating to fresh highs.

Terra is a decentralized finance (DeFi) payment network made specifically for transferring stablecoins. Luna is the native cryptocurrency to Terra’s platform.

See Also: Crypto Terra Rose More Than 8% In 24 hours

Why It Matters: Dogecoin’s year-to-date gains are an impressive 4,443.7%. However, the Shiba Inu-themed cryptocurrency is down 64.9% from its all-time high of $0.7376 reached in May and is now in seventh place in terms of market capitalization, as per CoinMarketCap data.

Luna’s year-to-date gains stand at 2,534.6% and it is the 24th-largest cryptocurrency in terms of market capitalization. The altcoin is down 24% from its all-time high of $22.33 reached in March.

Price Action: Dogecoin is up 10.7% during the last 24 hours, trading at $0.2870 at press time, while Luna is up 1.1% over the 24-hour period to $17.13.

Read Next: Bitcoin, Ethereum, Dogecoin Shrug Off Inflation Numbers, Infrastructure Bill; XRP Surges 16%

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