Recently, the crypto market has seen some instability, yet this hasn’t hindered the progress of coins like Dogecoin and XRP. One significant event was Toncoin (TON) joining the top 10 cryptocurrencies by market capitalization and even surpassing Cardano (ADA). Subsequently, Dogecoin is poised to attempt a flippening against XRP.
Dogecoin Gearing Up To Take Over XRP
Dogecoin has outperformed other cryptocurrencies during a period of market uncertainty in crypto. Despite occasional price drops, it has bounced back to reach $0.2 again. However, many obstacles are preventing further growth, with most selling pressure coming from those trying to push the price down at this level.
Despite losing some ground after its significant gains in March, Dogecoin’s market value has continued to grow robustly. Its market capitalization, which was under $15 billion at the beginning of 2024, has soared above $28.6 billion as of now. This places Dogecoin just shy of XRP‘s market cap.
Currently, XRP‘s market value is at approximately $33.9 billion, boosted by recent price drops. Notably, this figure is only 15.6% greater than Dogecoin’s market cap, a narrow margin considering the volatile nature of cryptocurrency prices.
If Dogecoin outperforms XRP and maintains its growth, DOGE has a good chance of surpassing XRP‘s market cap and taking the sixth position on the cryptocurrency list. With just a 20% increase in Dogecoin’s price to $0.24, its market capitalization would exceed $34 billion. Conversely, if XRP’s performance continues to deteriorate, the difference between the two digital currencies may narrow significantly within a week.
DOGE Price Projected To Explode
Dogecoin boasts a robust crypto community, with some believing it may be even stronger than XRP‘s following. The reason for this is the growing support base for DOGE, which has been bolstered by its past outperformance in the market. This strong fanbase and swift adoption are key reasons why Dogecoin holds promise for an intriguing future as a meme coin.
Several analysts have made guesses about Dogecoin’s future value, some reaching as high as $100. Nevertheless, based on his examination, crypto expert Ali Martinez suggests that Dogecoin could perform favorably during this bull market. Martinez’s analysis presents various potential prices, with $12 being the highest.
If the predicted outcomes occur, the DOGE market value will significantly increase, potentially surpassing XRP‘s current market cap standing, making DOGE one of the top cryptocurrencies by market capitalization. At present, however, XRP ranks 6th and Dogecoin ranks 8th, with USDC’s stablecoin holding a position between them.
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2024-04-12 03:22