Technical analysis suggests Dogecoin may outperform Bitcoin in relative strength

The cryptocurrency market has experienced fluctuations recently:

Bitcoin reached an eight-week high above $97,000, but has since dropped to the low $90,000s.
Dogecoin briefly rallied, approaching $0.15, before slipping back below $0.13 due to profit-taking.

BTC vs DOGE: Technical Analysis Insights

The BTCUSDT/DOGEUSDT chart shows both cryptocurrencies in an ascending channel, repeatedly testing its upper boundary without a breakout.
A declining slope in the BTC/DOGE ratio suggests Bitcoin may be losing strength relative to Dogecoin.
If the ratio breaks below the channel’s lower trendline, it could signal Dogecoin gaining performance against Bitcoin, prompting traders to reallocate capital.

Overall, while Bitcoin's price hovers around $93,030, Dogecoin’s price is near $0.127, with technical indicators suggesting potential relative outperformance by Dogecoin if current patterns hold.