Dogecoin (DOGE) vs Stellar (XLM): Which Is the Better Investment?

Dogecoin and Stellar (XLM) did well in the crypto market in the past week, with their price and other metrics like their market cap increasing by a wide margin

Both Dogecoin and Stellar (XLM) had contrasting performances in the crypto market last week. While both tokens experienced an increase in their prices and market capitalizations, Stellar outperformed Dogecoin in terms of price appreciation over specific timeframes.

According to data from CoinMarketCap, Dogecoin saw a 4% increase in its price over the last 24 hours, while Stellar experienced a more modest 1% increase. However, over the past seven days, Dogecoin outperformed Stellar with a 15% increase in its price, compared to Stellar's 14% gain.

In terms of market capitalization, both tokens experienced growth over the past week. Dogecoin's market cap increased by 15%, reaching over $18 billion, while Stellar's market cap grew by 9%, reaching a peak of $3.3 billion.

Over longer timeframes, Stellar outperformed Dogecoin in terms of price appreciation. While Dogecoin experienced a 2% increase in its price over the last 30 days, Stellar saw a 12% increase. However, Dogecoin outperformed Stellar in the year-to-date analysis, with a 32% increase in its price compared to Stellar's 20% decline.

Both tokens experienced varying levels of interest from investors, as indicated by their 24-hour trading volumes. Dogecoin had a significantly higher trading volume of over $600 million, while Stellar's trading volume was much lower at around $70 million.

As for future price outlooks, Coincodex provides speculative projections for both tokens. According to their analysis, Dogecoin's price could decline by -14% and reach $0.106777 by August 18, 2024. In contrast, Stellar's price is anticipated to increase by 9.23% and reach $0.111373 by the same date. It's important to note that these projections are subject to change and should not be taken as financial advice.

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