Amid the recent Cardano purple patch and Dogecoin’s underwhelming outing, an analyst has speculated that ADA would flip the meme coin in market cap.
An analysis of Cardano and Dogecoin shows that the former has recently outperformed the meme coin king. For context, Cardano has grown 14.4% in the past seven days, while Dogecoin has appreciated 7%.
The high-utility L1 token also outmatched the meme coin king in higher timeframes. In the past 30 days, Cardano is up a staggering 233%, while Dogecoin has managed a 116% growth.
Time is Approaching for the Flip: Analyst
Amid the ongoing price movements, notable Cardano bull and market expert Dan Gambardello has envisioned an ambitious event where ADA will flip Dogecoin in market rankings. In an X post on Thursday, he speculated on the event, presenting the price Cardano must attain to secure the move.
Notably, after flipping Cardano earlier in the year, Dogecoin surpassed XRP and USDC to become the sixth-largest crypto by market cap amid a $69 billion valuation last month. However, the meme coin has receded considerably from its November peak of $0.47992 and is currently valued at $64 billion.
Meanwhile, Cardano has been on a bullish outbreak spurred by strong macroeconomic boosts around its ecosystem. ADA reached a multi-month price high earlier in December, pushing its market cap to an intramonth high of $45.8 billion.
With the bullish event unfolding for Cardano, Gambardello has speculated that Cardano will soon surpass Dogecoin. He inferred that a surge to $1.84 would send Cardano past Dogecoin as the market stands.
The analyst stated that the time for Cardano to hit $1.84 per coin is approaching. Hence, the flip event is imminent.
Cardano to $1.84 Soon?
Notably, Gambardello’s imminent assertion implies he is speculating Cardano will trade at $1.84 soon. However, he did not place a timeline for the price attainment or the Dogecoin overthrow.
For context, with a total supply of $45 billion, a surge to $1.84 would push Cardano to a market cap of $64.63 billion. At the current market condition, this is slightly above Dogecoin’s current cap of $64.3 billion.
Meanwhile, the analyst earlier asserted an ADA push to $3. The Crypto Basic reported that the Cardano bull stated that the coin would surge to the price if it received exchange-traded fund (ETF) news like XRP did.
Nonetheless, analysts have placed higher price predictions for Cardano, with Ali Martinez insisting on a surge to $6. Market pundit Lark Davis also asserted that the asset would ultimately hit $10 this cycle.
In the meantime, Cardano trades at $1.19, down less than 1% in the past 24 hours and with a market cap of $41.81 billion.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
