Founder of Ethereum Vitalik Buterine just gave up the #2 best crypto spot DogecoinThe world’s first and largest meme-based cryptocurrency. Buterin has stated that Dogecoin deserves to be ranked right after Bitcoin (BTC)underscoring the meme coin’s significance in the crypto space and its unique cultural impact.
Buterin ranks Dogecoin as the top 2 cryptocurrency
Teslaran, a member of the crypto community at X (formerly Twitter), recently released a video with Buterin in an exclusive interview. During the interview the Founder of Ethereum Surprisingly, Dogecoin endorsed and stated that it deserves to be second only to Bitcoin as the most prominent cryptocurrency.
This unexpected approval caught the attention of the crypto market, mainly because Ethereum has consistently maintained its position as the second largest cryptocurrency after Bitcoin. As the first major cryptocurrency to launch after Bitcoin, Ethereum is often considered the world’s leading altcoin with the second largest market capitalization.
Ethereum was founded in 2013 by Buterin and went live in 2015. On the other hand, Dogecoin was created as a light joke in 2013 by software engineers Billy Markus and Jackson Palmer.
As a meme coin, the usefulness of DOGEDogecoin utility already lacking compared to that of Ethereum. However, the meme-based cryptocurrency has received a lot of attention and support due to its unique cultural value and light-hearted, fun theme.
Over the years, DOGE has experienced significant growth, building a community from millions of investors and supporters and developing numerous innovative projects. Starting from a zero value, Dogecoin reached an all-time high of $0.74 in 2021. market capitalization has grown to $25 billion.
Dogecoin’s rapid growth and emerging practical applications in the crypto industry could be the driving force behind this Buterin’s approval. Although he founded Ethereum, Buterin believes that DOGE surpasses ETH in certain aspects. The Ethereum founder also previously revealed that he is a Dogecoin holder.
Analyst predicts DOGE’s next upside target above $0.2
Crypto analyst Jake Wujastyk has done just that revealed a new one bullish forecast for the Dogecoin price on X (formerly Twitter) on October 29. According to the analyst, DOGE is preparing for one big bull rally to reach its next upside target between $0.2145 and $0.2295.
Wujastyk presented a detailed chart of the Dogecoin price and illustrated the meme coin’s price movements from 2021 to the present. Based on DOGE’s past price action in its annual chart, the analyst believes the meme coin is a expected increase above $0.2 before the end of 2024 or the beginning of 2025.
An increase to $0.2295 would represent a 34.7% increase from the current price. At the time of writing, Dogecoin’s price is trading at $0.17, which represents a 3.86% increase in the past 24 hours and a 24% increase in the past week, according to CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com