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Cardano (ADA) Faces Dual Meme Coin Competition where Shiba Inu (SHIB) Threatens Supremacy with Market Cap Approaching $23 Billion, Prompting Concerns of Surpassing ADA. Dogecoin (DOGE) Community Worries About Losing Top Meme Coin Status to SHIB.
Cardano founder Charles Hoskinson suggests that the commencement of the altcoin season relies on Dogecoin (DOGE), surpassing Cardano (ADA) in market capitalization. On March 5, DOGE briefly achieved a higher market cap than ADA, indicating a potential initiation of the altcoin season. Unfortunately, this momentum was fleeting, as DOGE retreated below ADA during Bitcoin’s sharp correction, contributing to a downturn across the cryptocurrency market.
Nevertheless, the chance of DOGE regaining supremacy over ADA persists, notably given its recent outperformance of ADA in the past week. This hints at the potential for DOGE to achieve additional price gains, possibly resulting in a surprising event where DOGE surpasses ADA once more. Hoskinson’s comments reflect his vigilant observation of market dynamics, specifically concerning the interaction between DOGE and ADA.
He notes having individuals who keep him informed when “Doge comes roaring,” potentially alluding to the watchful DOGE community.
Nonetheless, ADA confronts not one but two meme coin challengers vying for its position, with Shiba Inu (SHIB) currently holding the 10th position in market capitalization, closely trailing ADA. Should SHIB’s upward trajectory persist, it could potentially jeopardize ADA’s market standing. Furthermore, there is speculation that DOGE might cede its status as the leading meme coin to SHIB if SHIB’s market cap exceeds that of DOGE.
Lately, meme coins have demonstrated stronger performance compared to other altcoins, even outpacing certain utility tokens in terms of gains. This development may raise concerns among skeptics such as Ripple’s CEO Brad Garlinghouse, who questions the significance of meme coins within the cryptocurrency space.
Fueling the surge in meme coins are those built on Solana. For example, WIF has experienced a rapid increase from under $1 to $2 in less than two weeks, elevating its position to 54th in market cap rankings, closely approaching the top 50.
Another noteworthy meme coin on Solana, BONK, has experienced substantial gains, securing the 49th position in market cap rankings and entering the top 50. Simultaneously, Myro, another meme coin, is on the brink of joining the billion-dollar market cap league following its listing on Binance’s futures platform, with the prospect of being listed for spot trading in the immediate future.
Poodl Inu (POODL) has recently become a sensation, capturing the attention of crypto enthusiasts globally through its presale launch and robust marketing efforts. Operating on the Ethereum blockchain and attractively priced, Poodl Inu provides investors with an opportunity to engage in the ongoing meme coin excitement.
As Poodl strives to establish itself as a formidable player in the crypto space, investors are eager to explore opportunities aligned with their investment goals and risk tolerance. The Batch 2 presale from BlockDAG presents an enticing prospect for Poodl enthusiasts, allowing them to participate in a project with significant growth potential and a well-defined roadmap for success.
The heightened interest in BlockDAG’s Batch 2 presale underscores its rising prominence and potential in the cryptocurrency market. Drawing investors from diverse crypto communities, including Cardano (ADA) and Poodl enthusiasts, BlockDAG is establishing itself as a strong contender. With a robust $600 million roadmap for 2024, BlockDAG showcases a commitment to substantial growth and wealth creation for its community.
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