Cardano (ADA) Surpasses Dogecoin After 55% Surge
TL;DR
- Cardanos native token is riding the Trump-induced wave like no other, with a massive price surge that pushed it from $0.65 to almost $1 within minutes.
- This helped it become the eighth-largest cryptocurrency by market cap, surpassing the OG meme coin.
Cardanos native token took the recent market-wide crash worse than many tokens, as its price dumped from over $0.82 to under $0.6, which meant a 30% decline within a week or so.
It defended the $0.6 support and jumped to $0.65 during the weekend as the entire market saw a relief rally.
However, the landscape changed about an hour ago when US President Trump confirmed the much-anticipated news about a crypto reserve in the States. Moreover, he named three cryptocurrencies that will be included in it XRP, SOL, and ADA.
Perhaps this comes as no surprise, given that all the entities behind the tokens are based in the US. SOL and XRP shot up impressively by about 15-20% each, but ADA stole the show with a massive 55% surge that pushed it to just inches away from the coveted $1 level.
This became its highest price level in over a month, as it spent the entire February below that line. Additionally, it helped ADA rise in the top 10 rankings, as the asset is now the eighth-largest, with a market cap of over $35 billion.
Cardanos token surpassed the largest and oldest meme coin Dogecoin, whose market cap remains below $32.5 billion.
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