Analysts are confident that the dominance war between Cardano and Dogecoin will be settled soon
Cardano (ADA), currently ranked the eighth-largest cryptocurrency, has demonstrated an outstanding performance within the last week. Meanwhile, Dogecoin (DOGE), the largest meemcoin in the market, is experiencing an underwhelming outing. These varying trends have raised speculations about ADA’s ability to flip DOGE in market capitalization.
Analyst View on Cardano and Dogecoin’s Performance
Recent analysis shows Cardano performed better than the memecoin king. For comparison, Dogecoin has risen 5.10% over the last seven days, while Cardano has increased 10.4%. Cardano also outmatched the Dogecoin in higher timeframes. Cardano’s price surged by over 224% in the last 30 days, while Dogecoin rallied 117% within the same timeframe.
These notable price movements in these leading digital assets have drawn attention from the crypto community. Market expert Dan Gambardello has envisioned an ambitious scenario where ADA will flip Dogecoin in market rankings.
Currently, $1.84 $ADA would flip $DOGE.
The time is approaching.
The event is imminent. pic.twitter.com/yTbcKe91Hc
— Dan Gambardello (@cryptorecruitr) December 5, 2024
Gambardello believes the event is imminent and the time is approaching. However, he noted that ADA’s price must reach $1.84 for its market capitalization to flip that of DOGE.
Notably, Dogecoin’s market cap reached $69 billion last month, overtaking XRP and USDC. With this performance, DOGE became the sixth-largest cryptocurrency by market capitalization. However, the memecoin receded from its November peak, with the market cap dropping to $62 billion at press time.
Cardano’s Bullish Performance
Meanwhile, Cardano continues with its bullish outburst, spurred by strong macroeconomic boosts around its ecosystem. ADA’s market capitalization hit an intramonth high of $45.8 billion earlier in December. With the bullish event emerging for Cardano, Gambardello predicts it will soon exceed Dogecoin.
While ADA is currently trading at $1.16, Gambardello has predicted the price could reach $1.84 soon. However, he did not provide a precise timeline for the predicted target or Dogecoin flipping. Notably, Cardano’s total supply stands at $45 billion, thus, a rise to $1.84 would increase its market capitalization to $64.63 billion. This is substantially higher than Dogecoin’s current valuation of $62 billion.
Analysts have raised their price predictions for Cardano. While Ali Martinez insisted on a surge to $6, market pundit Lark Davis asserted that ADA would hit $10 this cycle.
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