- Cardano advocate and market participant Dan Gambardello anticipates that ADA will eventually surpass DOGE in market capitalization.
- As ADA nears the $1.84 threshold to surpass DOGE, its strong upward momentum indicates this milestone could be reached soon.
The cryptocurrency market has been one with suprises. The crypto community has witnessed crypto tokens outperform others in terms of market cap. Well, Cardano (ADA) continueshas captured centre stage in the cryptocurrency market, outperforming Dogecoin (DOGE) in recent weeks and sparking predictions of an imminent “flippening” in market cap rankings. Notable market participant and Cardano advocate Dan Gambardello, believes it’s only a matter of time before ADA surpasses the meme coin king.
The contrast in performance between Cardano and Dogecoin is becoming increasingly apparent. Over the past seven days, ADA has gained 14.4%, doubling Dogecoin’s 7% growth. Zooming out further, the gap widens. Cardano has surged an impressive 233% in the last 30 days, compared to Dogecoin’s 116% growth. This outperformance has been attributed to Cardano’s robust ecosystem developments and broader market tailwinds.
In December, Cardano reached a multi-month high, pushing its market cap to $45.8 billion. Meanwhile, Dogecoin, which enjoyed a peak valuation of $69 billion last month, has since cooled off, with a current market cap of $64 billion.
Analyst Predicts Imminent Flip
Market expert Dan Gambardello has forecasted that ADA will soon surpass DOGE in market rankings. In a social media post, he outlined that Cardano would need to reach $1.84 per token to overtake Dogecoin at its current market cap. Gambardello noted that this milestone is not far off, suggesting the flippening is imminent.
Currently, $1.84 $ADA would flip $DOGE.
The time is approaching.
The event is imminent. pic.twitter.com/yTbcKe91Hc
— Dan Gambardello (@cryptorecruitr) December 5, 2024
Currently trading at $1.19 with a market cap of $41.81 billion, Cardano would need a significant push to achieve the $64.63 billion valuation necessary to flip DOGE. However, its bullish momentum, coupled with ongoing developments in the Cardano ecosystem, makes this scenario increasingly plausible.
Gambardello is not alone in his optimism for Cardano. He has previously speculated that ADA could hit $3 if the project received news akin to the exchange-traded fund (ETF) developments that boosted XRP. Other analysts have gone even further, with Ali Martinez predicting a rise to $6 and crypto influencer Lark Davis envisioning ADA reaching $10 in this market cycle.
Despite the bullish outlook, the timeline for ADA to flip DOGE remains uncertain. While Cardano’s high-utility layer-one blockchain gives it a competitive edge, Dogecoin’s strong community and meme appeal continue to sustain its position.
As of now, Cardano’s path to $1.84 hinges on sustained investor interest, ecosystem growth, and favorable macroeconomic conditions. While Gambardello refrained from specifying when the flippening might occur, his confidence reflects the growing sentiment among ADA enthusiasts.
Cardano’s recent performance and ecosystem advancements have positioned it as a strong contender to surpass Dogecoin in market cap rankings. While challenges remain, analysts believe that it’s only a matter of time before ADA overtakes DOGE, potentially marking a pivotal moment in the crypto market.
