Dan Gambardello, a long-standing Cardano bull, has maintained his stance that Bitcoin’s first meme coin, DOG, would flip Dogecoin in market cap.
Gambardello shared this stance in a tweet today, amid a recent bullish development for DOG, a Bitcoin-based meme coin minted on the Runes Protocol. He reiterated that DOG, currently the 12th-largest meme coin by market cap, would not only outperform Dogecoin this cycle but flip the sector’s leader in the long term.
Dogecoin’s Pole Position at Risk: Gambardello
Interestingly, the prominent analyst has been drumming this sentiment for a while. He noted that he was attracted to the prospect of DOG as the first meme coin on Bitcoin and how its relationship with the crypto leader would impact its long-term trajectory.
His support for DOG dates back to a tweet in May 2024 where he first asserted that DOG would flip Dogecoin. Since then, he has unrelentingly championed this narrative, despite his generally unenthusiastic view of meme coins.
Gambardello emphasized that meme coin exchange-traded funds (ETFs) are forthcoming, as the recent development on the Bitwise Dogecoin ETF suggests progress with the US Securities and Exchange Commission.
When they do start trading, he suggested that DOG’s position as the most prominent meme coin in the Bitcoin ecosystem, combined with growing institutional interest in joke-themed tokens, could play into the hands of DOG.
Kraken Listing and Growing DOG Engagement
Further fueling Gambardello’s optimism is DOG’s Kraken listing. The prominent exchange announced yesterday that DOG would be available for trading on June 27, becoming the first easy-on-ramp service provider in the US to list the token.
Additionally, Gambardello shared another fascinating development for DOG. He highlighted that DOG is outperforming Dogecoin and Cardano in social engagement, as interest in DOG surges. It ranks 14th on LunarCrush, one place above DOGE and two spots ahead of ADA.
Citing these factors, he emphasized that things could rapidly develop for DOG when sentiment turns bullish and the altcoin season finally resumes. Meanwhile, a shared chart shows that DOG could reach a $100 billion market cap, trouncing Dogecoin’s current $24 billion valuation.
DOG’s Possible Price If It Flips Dogecoin
At the time of writing, DOG trades at $0.004546 with a market cap of $454 million. To flip Dogecoin. Its market cap needs to surpass DOGE’s current $24 billion valuation.
From here, it would take a 5,186% market cap growth to reach $24 billion, which would be the minimum DOG needs to grow to flip Dogecoin. Such an uptick would take DOG’s price to $0.2403.
However, Gambardello projected a $100 billion market cap for DOG, potentially pushing its price to $1 with its 100 billion circulating supply. Remarkably, the analyst also stated that DOG would outperform Cardano this cycle.
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.
