Cardano founder Charles Hoskinson has declared that the alt-season will finally emerge when Dogecoin (DOGE) flips ADA.
Not known to speculate on prices, the post from Charles Hoskinson marked a rare acknowledgment of the ongoing shift in the crypto ecosystem. With the price of Bitcoin (BTC) soaring to $68,785.95, a figure close to its All-Time High (ATH) of $68,789.63, many altcoins have started riding the train.
Memecoins like Dogecoin (DOGE) are at the forefront of this revolution after recording a growth of more than 98% in the trailing 7-day period.
Profiling The Hoskinson Declaration
Charles Hoskinson shared his opinion on the likely emergence of the alt-season on X with a meme. The justification for assuming Dogecoin might flip Cardano is based on both coin’s market capitalization.
That moment Doge flips Cardano. It's officially alt-season kids pic.twitter.com/cjNGNGKoi3
— Charles Hoskinson (@IOHK_Charles) March 5, 2024
At the time of writing, Cardano is priced at $0.7586 and boasts a market capitalization of $26,859,093,474. Dogecoin follows closely behind with a price of $0.1773 and a market capitalization of $25,516,053,031.
While the price of Cardano has printed a 3% slump in the past 24 hours, Dogecoin has inked a 9% gain. Should the growth trend between both assets continue, the flipping might eventually be recorded in the short term.
When quizzed by a community member on whether he keeps tabs on the price of assets, Hoskinson insinuated that he does not but typically gets reminded by those who do when the “Doge comes roaring.”
Oh believe me the people who do definitely remind me when the Doge comes roaring.
— Charles Hoskinson (@IOHK_Charles) March 5, 2024
The DOGE-SHIB Battle
Besides Bitcoin and Ethereum (ETH), which have maintained their dominance in the industry, nothing stays permanent for the other altcoins in terms of market capitalization, and occasional flipping is recorded in the market.
Riding the current bullish wave is Shiba Inu (SHIB), whose market capitalization now stands at $22,716,018,484 and is currently ranked the 10th largest cryptocurrency.
With a 24-hour growth of 43.95%, some speculate that if the current SHIB rally continues, it might just be on its way to displacing Dogecoin as the world’s most valuable memecoin.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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