Cardanos 233% Surge Crushes Dogecoins Momentum: Analysts React
- Cardano surged 14.4% this week and 233% in a month, far outperforming DOGEs 7% weekly and 116% monthly growth.
- ADA needs to reach $1.84 to surpass DOGEs $64 billion market cap, with analysts predicting further gains.
- Analysts foresee ADA hitting $6 to $10, driven by ecosystem growth and potential positive market events like ETF-related news.
Cardano (ADA) is riding a wave of bullish momentum, leaving Dogecoin (DOGE) in its wake. Over the past week, ADA has surged 14.4%, doubling DOGEs 7% rise. On broader timeframes, ADAs performance is even more impressive: a 233% monthly growth compared to Dogecoins 116%.
This surge in Cardanos price has bolstered its market cap to $45.8 billion, a significant rise that brings it closer to Dogecoins $64 billion valuation. Notable ADA advocate Dan Gambardello has predicted an imminent market cap flip, asserting that ADA needs to reach $1.84 to surpass DOGE.
Time for Cardano Flip?
Dogecoins previous achievements include flipping Cardano and climbing past XRP and USDC to secure its position as the sixth-largest cryptocurrency. However, DOGE has dropped from its November peak of $0.47992 and now trades at $0.4643. Meanwhile, ADA has risen to $1.19, reflecting its growing adoption and robust ecosystem.
Gambardellos prediction aligns with Cardanos recent gains and potential catalysts. If ADA hits $1.84, its market cap would rise to $64.63 billion, overtaking Dogecoin. However, he has not provided a specific timeline for this milestone.
Analysts remain optimistic about ADAs future. Ali Martinez predicts a surge to $6, while Lark Davis suggests ADA could hit $10 this market cycle. These projections stem from Cardanos potential exposure to positive market events, such as ETF-related news, which recently boosted XRP.
Dogecoins market cap currently stands at $64 billion, marking a decline from its $69 billion valuation in November. In contrast, Cardanos market cap has risen significantly, climbing to $41.81 billion from $30 billion earlier this year. ADA is priced at $1.19, with projections suggesting a potential rise to $1.84 or higher. Notably, ADAs 24-hour trading volume of $813 million surpasses Dogecoins $537 million, highlighting the increasing activity and interest surrounding ADA.
As Cardano narrows the gap, its supporters, including Gambardello, believe that ADA flipping DOGE is a matter of when, not if.
Read more: https://www.tronweekly.com/cardanos-233-surge-crushes-dogecoin/
Text source: TronWeekly
