Dogecoin Passes Cardano ADA As The 6th Largest Crypto Asset

At the moment, DOGE has a larger market valuation than ADA and more than 120 S&P 500 companies combined.

Dogecoin (DOGE), a meme-based cryptocurrency, has recently started acting more like a greyhound and less like the Shiba Inu dog that serves as its symbol.

Since Tuesday, the price of DOGE has climbed by 150%, from $0.0594 to 15 cents, with a 74% spike in the last day alone, according to statistics from top analysts.

With the surge to six-month highs, DOGE has supplanted Cardano’s native ADA coin as the sixth-largest cryptocurrency in the world, overtaking Ethereum rival. At the time of publication, ADA had a market worth of $14.5 billion, whereas DOGE, a 2013 joke stock, had a market cap of about 17.5 billion. More than 120 S&P 500 companies are now outperformed by DOGE in terms of market capitalization.

Following the completion of Elon Musk’s acquisition of Twitter, a longtime supporter of DOGE and the CEO of Tesla, DOGE seems to be on the upswing. In the past, Musk has defended the use of DOGE to charge users for their tweets and stop spam and bots on Twitter.

Charles Hoskinson, the inventor of Cardano, claims that Musk’s acquisition of Twitter has raised the possibility of a DOGE-Twitter merger. Hoskinson requested the Dogecoin network to join Cardano as a sidechain on Friday.

Exactly what Musk intends to accomplish with dogecoin is still a mystery. That lets speculation and price volatility continue unabated.
Shiba Inu (SHIB), the self-described “dogecoin killer,” has traditionally followed DOGE upward and may shortly surge as well, according data analytics company Santiment.