Dogecoin Passes Cardano ADA, is Shiba Inu Next?

Dogecoin (Doge), the largest meme-coin cryptocurrency, has overtaken Cardano ADA to become the eighth-largest cryptocurrency by market cap. According to newly compiled data, DOGE boasts a new market cap of approximately $28 billion, surpassing that of Cardano at $27.3 billion. 

In a post on X, Cardano founder Charles Hoskinson gave props to the leading dog-themed currency, joking that a new wave of cryptocurrency is upon us. “That moment Doge flips Cardano, it’s officially alt-season kids,” his post reads. Many traders are also dubbing the new wave of altcoins as “alt-season,” due to their recent surge. 

Also Read: Can Dogecoin (DOGE) Hit All-Time High in March 2024?

Dogecoin is currently rising on a bullish wave, according to metrics. According to data from IntoTheBlock, 89% of Dogecoin holders are currently profitable at its current price of _______. Furthermore, despite its surge to all-time highs, Dogecoin outperformed Bitcoin over the past 7 days, surging by over 100%. Whale activity is also rising, indicating more interest in DOGE. 

With Dogecoin surpassing Cardano ADA, some investors are hoping that Shiba Inu is the next meme/alt-coin to make such a jump. While SHIB remains far behind DOGE in terms of price and market cap, its trading volume is on Dogecoin’s heels. This signals growing liquidity and interest in the crypto market, two factors that are just as valuable. We’ve seen meme coins surge on the charts just based on trading volumes, such as DOGE, SHIB, and PEPE coin. 

Also Read: PEPE Continues To Surge: Is It Too Late To Buy Pepe Coin?

With SHIB and Dogecoin gaining momentum, it’s clear that “alt-season” is nearing. Fueled by the pumping from Bitcoin’s surge and a bullish market, the dog-themed currencies are poised to rise more.