Amid Cardano’s recent purple patch and Dogecoin’s disappointing release, one analyst speculated that ADA would launch the meme coin in terms of market cap.
An analysis of Cardano and Dogecoin shows that the former has recently surpassed the king of coins. As a reminder, Cardano is up 14.4% over the past seven days, while Dogecoin is up 7%.
The high-utility L1 token has also outperformed the coin king in longer time frames. Over the past 30 days, Cardano is up 233%, while Dogecoin managed 116% growth.
Turnaround time is approaching: analyst
Amid the ongoing price movements, renowned Cardano bull and market expert Dan Gambardello envisioned an ambitious event in which ADA would topple Dogecoin in the market rankings. In a Message On Thursday, he speculated on the event, laying out the price Cardano needs to reach to secure the move.
Notably, after flipping Cardano earlier in the year, Dogecoin exceeds XRP and USDC will become the sixth largest crypto by market capitalization, with a valuation of $69 billion last month. However, the meme coin has retreated significantly from its November high of $0.47992 and is currently valued at $64 billion.
Meanwhile, Cardano has seen a bullish surge driven by strong macroeconomic impulses around its ecosystem. ADA hit a multi-month high price earlier in December, pushing its market capitalization to an intra-month high of $45.8 billion.
With the bullish event unfolding for Cardano, Gambardello speculated that Cardano would soon overtake Dogecoin. He inferred that a rise to $1.84 would push Cardano past Dogecoin in the current market state.
The analyst said that the time for Cardano to reach $1.84 per coin is approaching. Therefore, the flip event is imminent.
Cardano at $1.84 Soon?
Notably, Gambardello’s impending assertion implies that he is speculating that Cardano will soon trade at $1.84. However, he did not set a timetable for Dogecoin’s price peak or reversal.
As a reminder, with a total supply of $45 billion, a rise to $1.84 would push Cardano to a market cap of $64.63 billion. Under current market conditions, this figure is slightly higher than Dogecoin’s current cap of $64.3 billion.
Meanwhile, the analyst had earlier claimed a surge in ADA to $3. The basis of cryptography reported that the Cardano bull said the coin would rise to the price if it received news about exchange-traded funds (ETFs) like XRP did.
Nonetheless, analysts have issued higher price predictions for Cardano, with Ali Martinez insisting on a go up to $6. Market expert Lark Davis also affirmed that the asset would ultimately reach $10 this cycle.
Meanwhile, Cardano is trading at $1.19, down less than 1% in the last 24 hours and with a market cap of $41.81 billion.
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