Subjectively, I've felt that dog-themed meme coins moon prior to BTC and the majority of the crypto market.
I've overlaid the percentage growth of BTC vs DOGE vs SHIB vs FLOKI vs BABYDOGE on TradingView.
In the first quarter of 2021, DOGE rose 1053%, while BTC rose 102%.
In the second quarter of 2021, DOGE was up 383%, while BTC dipped 27%. Those were dark times.
In the third quarter of 2021, DOGE was down 19%, SHIB was down 17%, but BTC was up 23%. Yay for BTC.
Then, over the fourth quarter, DOGE fell 30%, while BTC also fell by 14%.
Notably, we witnessed SHIB shoot up 228% over the same period, and then end the quarter up 33%.
FLOKI rose 233%, only to end the quarter up 11%.
Lastly, BABYDOGE went up a whooping 428%, ending the quarter up 77%.
Since the end of 2021, I've noticed the rising star amongst these four memecoins is BABYDOGE.
BABYDOGE up 57%, DOGE down 5%, SHIB down 10%, FLOKI down 13%, while BTC is down 12%.
Judging from the graphs over the past year, there didn't seem to be a correlation.
Although, one may be able to argue that people are taking profits from their dog-themed meme coin and buying into BTC. This is possible and speculative.
For now, I won't be using dog-themed meme coins as an indicator for upcoming bullish BTC price action.