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Safemoon vs Dogecoin – How do they perform when Bitcoin rises and falls?

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Safemoon vs Dogecoin is an interesting debate. Especially in the larger context of the altcoin market. Safemoon’s [SFM] and Dogecoin’s [DOGE] price action followed Bitcoin’s [BTC] cue in April. However, DOGE had an early start after Elon Musk swapped it for Twitter’s logo for a few days in early April. Twitter’s action saw DOGE swing from $0.07600 to $0.10500 on April 3.

SFM didn’t fall far behind in traction, but its past and scam allegations still outweigh its ongoing price action. It made a new swing lows at press time, but it can’t hinder it from a likely rebound.

Given that both are memecoins and can easily go viral and offer profits in the long run – Which one performed better in April, and how much can they weather market volatility in the future?

DOGE vs. SAFEMOON – Which one is safer in market volatility?

Assets react differently to market uncertainty. For DOGE and SAFEMOON, the reaction was varying, especially during BTC’s price swings in April 2023.

Notably, BTC consolidated narrowly near $28k in late March but broke above the range on 11 April. The upswing saw BTC hit $31k.

Over the same period, DOGE’s rally after Twitter’s action had cooled to around $0.08107, up from $0.10500. However, BTC’s surge prompted it to rally to $0.09500 – A 17% hike.

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The bullish sentiment also offered a safe landing for SAFEMOON bulls. They rallied from $0.0001700 to $0.0002804 – A 64% hike.

Therefore, BTC’s upswing in mid-April saw SAFEMOON as a safer bet at 64% gains co

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Author: Suzuki Shillsalot

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