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Shiba Inu Shows Strength to Break $0.000081 to $0.0001553: Top Analyst

Sam Wisdom Raphael
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Shiba Inu Shows Strength to Break $0.000081 to $0.0001553: Top Analyst

Market veteran Javon Marks sees Shiba Inu displaying sufficient strength to breach the $0.000081 territory upon the recent recovery, with a potential push toward $0.0001553.

Shiba Inu is currently pushing to recover the losses of the past two weeks. Recall that the asset dropped 14.72% from March 11 to 24 during the market-wide correction. The recent rebound has helped SHIB to recoup some of the lost values, as it rose 10.68% this week.

Amid the recovery, SHIB has set itself on an uptrend, displaying immense strength, as disclosed by Javon Marks. According to Javon, the latest upward momentum is a precursor to another impressive push higher, similar to what SHIB observed from late February to early March.

Shiba Inu Shows Impressive Strength

Data from an accompanying chart indicates that Shiba Inu’s price is well above a downward resistance trend that plagued the cryptocurrency for 16 months. The downward trend began when SHIB dropped from the $0.00008845 all-time high. 

However, the crypto asset eventually breached it when it rallied to $0.00001590 last January. Shiba Inu retested the trendline upon the collapse to $0.000006 in June 2023. Following this retest, SHIB continued to increase in price, surpassing the downtrend. 

Javon foresees another potential 141% price push for Shiba Inu amid this sustained upward momentum. According to the chart, this push would allow Shiba Inu to reclaim the $0.000081 price zone, giving it a platform to recover its ATH of $0.00008845.

The analyst believes a pump to $0.000081 is only a matter of time. However, Javon’s projections go beyond this territory, as the analyst anticipates further growth toward $0.0001. According to him, SHIB’s recent 14% retracement precipitated strength in the market.

SHIB Looking to Hit $0.0001553

Javon says this strength could help the cryptocurrency register another 90% rally, essentially spiking to $0.0001550 to clinch a new all-time high. Multiple industry commentators have expressed confidence in Shiba Inu’s potential to hit the $0.0001 zone.

Nonetheless, the asset has multiple resistance levels to breach before reaching these price targets, with the last resistance point stationed at a price range of $0.000056 to $0.000131, where 87,810 addresses procured 29.7 trillion SHIB tokens, according to IntoTheBlock data.

Shiba Inu Address Profitability IntoTheBlock
Shiba Inu Address Profitability | IntoTheBlock

Meanwhile, Shiba Inu is currently changing hands at $0.0003105 after dropping from the recent high of $0.00003262. Investors have trooped into the market, pushing its 24-hour trade volume by 16.28% to $1.74 billion. Open Interest (OI) has also increased by 1.56% in 24 hours to $108 million.

Here’s What XRP Price Will be if it Catches Ethereum Market Cap

Sam Wisdom Raphael
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0
Here’s What XRP Price Will be if it Catches Ethereum Market Cap

If XRP captures Ethereum’s (ETH) market cap, its price could skyrocket to a new all-time high of $7.42, representing an impressive 11.8x rise.

Despite its unique legal clarity, XRP has not performed as expected during the current bull run. The concerns among market participants began in late July 2023 when XRP started correcting the gains it picked up following the pivotal July 13, 2023 ruling.

Notably, by September 2023, XRP had already retraced all its gains, collapsing from the $0.93 high. Despite the broader market’s uptrend, which started in October 2023, XRP has not recorded any substantial price run, trailing other notable altcoins, including Ethereum.

As a result, Ethereum, which XRP had aimed to overtake again as the second-largest crypto asset, has clinched a market capitalization far above XRP’s. At the valuation of $406.64 billion, Ethereum’s market cap has skyrocketed 119% from the $185.12 billion recorded last October.

However, while XRP’s market capitalization has also increased within this timeframe, its growth rate pales compared to Ethereum’s. XRP currently boasts a valuation of $34.23 billion, marking a 32% increase from the $26 billion market cap in October 2023.

XRP Price if It Captures Ethereum Market Cap

Despite the underperformance, some market participants remain confident in XRP’s potential. Interestingly, analysts have predicted that XRP will hit some lofty price positions. On March 19, top analyst EGRAG asserted that XRP could reach $27, citing historical data.

In addition, Reaper Financial CEO Patrick Riley revealed in an interview last December that he expects XRP to record a massive growth to $22. Amid these ambitious projections, we evaluated how much the XRP price needs to surge for the token to overtake Ethereum eventually.

Leveraging an online resource, Marketcapof com, we discovered that XRP currently trades 0.08x under Ethereum in terms of market capitalization. As a result, XRP’s valuation would need to increase by as much as 11.88x in order to reach Ethereum’s market cap.

Supposing XRP’s circulating supply remains relatively stable, XRP’s price would need to rise to $7.42 for its market cap to reach the figure currently recorded by Ethereum. 

Market watchers have previously forecasted XRP to hit the $7 price target. Prominent XRP influencer Ben Armstrong disclosed in January that believes XRP would certainly reach $7. Meanwhile, last month, analyst Ben McClymans set a $7 target for XRP during the bull run in 2025.

For XRP to reach the $7 target, its price would need to rally by 1,013% from the current figure of $0.6285. While this surge could face opposition at multiple junctures, analysts generally believe it is possible to attain.

Pre-Mine Ethereum Address with 1,000 ETH Awakens After 8+ Years of Dormancy

Lele Jima
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0
Pre-Mine Ethereum Address with 1,000 ETH Awakens After 8+ Years of Dormancy

A dormant Ethereum address holding a substantial amount of ETH has reawakened after over eight years, looking to take advantage of the recent uptrend.

According to Whale Alert, a dormant Ethereum address containing 1,000 ETH worth $3,566,935 has just been activated after 8.7 years. 

Details of the Activation 

On-chain data shows that the address is a pre-mine address, which was created before Ethereum officially made its debut in 2015. Notably, the unlabeled address received 1,000 ETH through a Genesis transaction on July 30, 2015. However, the address has been dormant ever since.

With the price of Ethereum surging to the $3,600 region, the address recently came out of dormancy, initiating a series of transactions containing between 2 and 100 ETH. 

The address first carried out an initial transaction worth 2 ETH today at exactly 01:09 (UTC). Additionally, the pre-mine wallet moved 8 ETH to a different address two hours later. 

The last transaction came in at exactly 04:46 (UTC). This time, the address transferred 100 ETH worth $356,111 to another wallet. Cumulatively, the pre-mine address moved a total of 110 ETH to three different recipient wallets. In the hours leading up to press, these recipient wallets have still not moved the funds.

Following the transactions, the ancient address now holds 889.99 ETH, worth $3.17 million. The identity of the user behind the address is unknown at the time of writing. 

Other Pre-Mine Ethereum Addresses Awaken 

The recent activation of the Ethereum address is not an isolated event, as Whale Alert has reported a series of similar incidents. Last month, a pre-mine Ethereum address containing 238 ETH was activated after being dormant for 8 years and six months. 

In January, the same event occurred, where an Ethereum address containing 200 ETH of pre-mined funds reawakened after nearly eight and a half years of dormancy. 

As reported earlier, network participants have also activated dormant pre-mine Ethereum addresses containing 200 and 500 ETH after several years of being dormant. 

The latest activation did not have a negative impact on the price of ETH. At press time, ETH was trading at $3,561, up 0.98% in the past day.

Data Indicates XRP Can Pump 900% to $5.5 Upon Bullish Golden Cross

Sam Wisdom Raphael
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0
Data Indicates XRP Can Pump 900% to $5.5 Upon Bullish Golden Cross

The XRP price could be on the verge of an impressive 900% pump to clinch the $5.5 territory following the formation of a golden cross, historical data suggests.

Market analyst EGRAG called attention to this phenomenon in one of his latest analyses of XRP price. The skilled chartist emphasized that leveraging historical data is essential in trying to determine the future movements of an asset. 

Building on this premise, the analyst utilized a 2-week XRP chart to pinpoint XRP’s shortest and most minimal price rallies observed in the past after the 21 Exponential Moving Average (EMA) secured a cross above the 55 Moving Average (MA).

This sort of crossover is called a golden cross, occurring when a shorter moving average moves above a longer moving average. It indicates that recent prices are increasing at a faster rate than older prices, reflecting a shift in market momentum from bearish to bullish.

Historical Data

Market participants regard this as a sign of strengthening market conditions and increasing buyer interest. Historical data confirms that this pattern has often led to impressive price surges for XRP, but EGRAG’s recent analysis only factors in the smallest rallies.

For instance, the 21 EMA crossed above the 55 MA in the first quarter of 2017, leading to a shift in market conditions from bearish to bullish. Following the crossover, XRP first recorded a 902% price rally before eventually pumping at a higher appreciation rate to hit the $3.31 ATH in January 2018.

After XRP corrected from the $3.31 ATH, the 21 EMA crossed below the 55 MA, signaling that momentum had changed from bullish to bearish. This resulted in a massive retracement that saw XRP slump to a low of $0.1009 in March 2020.

However, the 21 EMA moved above the 55 MA again in March 2021. This crossover led to another price pump as buyers entered the market. Data from EGRAG’s chart shows that XRP surged 584% to the $1.96 high in April 2021 before correcting in the months that followed.

XRP Price Targets 900% Rise to $5.5

Interestingly, the golden cross has occurred again for the third time, leading to projections of another price pump. EGRAG sets up two possible price trajectories, one resulting in a 585% rally to $4 and another culminating in a 900% pump to $5.5.

Each of these paths would take XRP to a new all-time high. However, when asked how certain he is of this upcoming pump, EGRAG stressed that it would be bearish for XRP not to clinch a new ATH soon or reach $5 to $10. According to him, if it fails to do so, investors might have to wait for the next bull run.

With the XRP price only up 5.80% over the last 30 days, some pundits have advised investors to sell off their holdings and move to other assets or miss the ongoing bull run. However, others remain confident. For instance, EGRAG is confident XRP could hit double digits this cycle.

Meanwhile, XRP currently trades for $0.6207, requiring a 433% increase to surpass its previous ATH. XRP has been trading flat over the last three months. Despite the underperformance, Altcoin Daily sees it potentially increasing 100,000% in this bull run.

Top Five Cryptos to Watch as April Approaches

Mark Brennan
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Top Five Cryptos to Watch as April Approaches

As March’s rollercoaster ride comes to an end, looking to usher in April, investors can switch their focus to these five cryptocurrencies in the weeks ahead.

The crypto market had an incredible March, which brought a new all-time high for Bitcoin and a significant drawdown in the aftermath.

With things seemingly cooling off now and market conditions reentering a bullish phase, the following cryptocurrencies may capture the eye of investors.

Top Five Coins to Watch In April and Beyond

Bitcoin (BTC)

After setting a new all-time high of $73,750 in March, expect Bitcoin to continue to be the center of attention as the new month unfolds. Evidently, the rebound from its recent $61,000 lows to above $70,000 at the time of writing has already boosted the prospects of a new all-time high in the coming weeks.

Spot Bitcoin ETFs have been the primary driver of Bitcoin demand and saw inflows slow down in the third week of March. However, with that correction now in the rearview, the stage may be ultimately set for Bitcoin to continue to impress. BTC will be looking to add to its current year-to-date returns of 65%.

Shiba Inu (SHIB)

Shiba Inu had a fruitful March with more than 30% returns and a stint that saw it come close to overtaking Dogecoin as the largest meme-inspired cryptocurrency by market cap.

Even though Shiba Inu has since slipped and lost some ground to Dogecoin, that impressive fight for supremacy may resume in the coming weeks.

Shiba Inu currently has a market cap of $18 billion, which is $12 billion less than Dogecoin. However, one might expect SHIB to bridge the gap by a few billion.

Shiba Inu currently trades around $0.00003233, which has increased by approximately 20% in the past week alone.

XRP

XRP is another top cryptocurrency to watch, especially after Ripple’s case with the SEC took a new turn this week. As reported by The Crypto Basic, the SEC seeks to impose a $2 billion fine, which Ripple (the company) has revealed it is not willing to pay to settle the long-standing legal battle.

With Ripple having until April 22 to file its report, investors may anticipate a wild ride before and after the company makes its case against the proposed fine. Notably, the filing will be made public on April 24, and its impact on XRP’s price may be telling.

XRP Investors will be hopeful that regardless of the outcome, the cryptocurrency will beat its current 10% monthly gains posted in March.

Such an outcome could potentially save XRP from losing its position as the sixth-largest cryptocurrency to USDC, which is now just $200 million away from overtaking it.

WEN

Launched in February by Solana’s leading DEX aggregator, Jupiter, WEN is one of the top trending altcoins. The memecoin has gained over 300% in the past month and secured its first major listings with Bybit and Crypto.com, unlocking the culture-based coin to millions of new users.

WEN is currently trading around $0.0004132, with a $300 million market cap suggesting more room for growth. With potential listing on Coinbase and Binance still a possibility in the coming month, WEN may catch the eye of investors seeking to allocate more funds to their meme portfolio.

Cardano (ADA)

Despite multiple bullish predictions about Cardano, the coin has so far struggled to impress, with a 4% gain in the month of March. In the process, Cardano lost its position as the 8th largest cryptocurrency, relinquishing it to Dogecoin. 

The coming weeks present an opportunity for Cardano to fight back, especially with Avalanche lurking in 10th place with just $3 billion separating both coins. Recent developments around the Cardano ecosystem and general bullish market sentiment all boost the cryptocurrency’s chances of an uptrend. 

On the other hand, dropping to 10th and even lower could nail its fate and make Cardano a less popular choice for investors.

Estimating XRP Required To Make $1M if XRP Hits $7.8, $11.2, $24, or $124.4

Sam Wisdom Raphael
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Estimating XRP Required To Make $1M if XRP Hits $7.8, $11.2, $24, or $124.4

This is an estimate of how much XRP investors need to hold to see their investments skyrocket to $1 million at various prices set by market analysts.

XRP has been stuck in a consolidation phase since dropping from the $0.7440 high on March 11. The crypto asset has failed to breach the $0.65 resistance while showing resilience at the $0.56 support.

Amid this consolidation, XRP continues to trade under the $1 price and has an all-time high value of $3.31. However, some investors see this extended downturn as a period to accumulate more tokens at discounted prices.

This sentiment stems from optimism that XRP could record an impressive breakout in this bull run, given its fundamentals and unique status as the only asset with legal clarity. With several targets set for this projected rally, some investors anticipate $1 million returns.

Amid these expectations, we evaluated the number of tokens an investor would need to hold to see his bags skyrocket to $1 million at varying price targets, especially those projected by crypto analytical platform Changelly for the next few years.

XRP Needed for $1M at Various Price Targets

According to the analysts at Changelly, XRP is poised to reach a minimum price of $7.83 by the year 2030, which is six years from now. If XRP does indeed hit this target, any investor who holds 127,713 XRP tokens would be looking at a cool $1 million in profit. At the current price of $0.6239 per token, those 127,713 XRP tokens are worth $83,511. This means that if the predicted price target is met, the value of these tokens will increase by a whopping 9,500%, a significant return on investment.

It’s important to note that these price predictions are not guaranteed, and investors should always exercise caution and do their research before making any investment decisions.

Changelly analysts do not see XRP reaching a two-digit value until seven years later, predicting XRP to claim the $11.28 price in June 2031. At this price, 88,652 XRP tokens would be worth $1 million, representing a 1,708% rise from their current investment of $55,309.

Meanwhile, the $24 target is expected to materialize in 2033. It bears mentioning that prominent analyst EGRAG believes XRP could actually reach and surpass this target, having constantly predicted the cryptocurrency to hit $27 on multiple occasions.

XRP Prediction Table Changelly
XRP Prediction Table | Changelly

Should XRP record a rally to $24, an investor would need to hold 41,666 tokens if an investor means to secure $1 million. These XRP can be procured for a bargain price of $25,995, with XRP currently trading for $0.6239.

The most ambitious target on this list is $124.47, which represents a massive 19,850% increase from XRP’s current price. Despite the mountain XRP needs to climb to reach this target, analysts at Changelly believe it could be possible, projecting XRP to reach the goal as its minimum price in March 2040.

XRP Price Prediction 2040 Changelly
XRP Price Prediction 2040 | Changelly

At the $124.47 price, an investor with just 8,034 XRP tokens would join the millionaire club. Interestingly, these XRP are worth a meager $5,084 at current XRP prices.

Here’s How Xuirin Finance (Xuirin) Unlocks Access To the Multi-Billion Dollar DeFi Debit Card Market

Andrew MacGill
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Here’s How Xuirin Finance (Xuirin) Unlocks Access To the Multi-Billion Dollar DeFi Debit Card Market

With the introduction of DeFi Debit Cards, Xuirin Finance—a trailblazer in the DeFi space—is set to revolutionize the finance industry. These innovative cards mark the beginning of a multibillion-dollar opportunity poised for unprecedented growth and transformation, signifying a pivotal moment in merging conventional finance with decentralized technologies.

At their core, the DeFi Debit Cards from Xuirin Finance act as a bridge enabling seamless transactions between fiat and cryptocurrency realms. These cards facilitate the use of digital assets for everyday purchases, connecting the worlds of FIAT and CRYPTO in a way that mirrors traditional payment systems.

The user-friendly and accessible financial innovations provided by Xuirin Finance act as a catalyst for DeFi, drawing a wider audience towards cryptocurrency adoption.

If you want to buy xuirin tokens, you can click here

The DeFi Market & Debit Card Potential

The DeFi arena within the cryptocurrency sector has attracted significant interest. The daily volume in DeFi transactions is estimated to hover around $25 billion, highlighting the intense activity and liquidity within decentralized finance protocols and underscoring the increasing popularity and adoption of DeFi applications.

In the broader financial sector, global card transactions using traditional payment methods amounted to approximately US$42.7 trillion in 2022. This figure includes both credit and debit card transactions, illustrating a robust growth trend with credit card transactions increasing by 7% and debit card transactions by 9%.

The rise and acceptance of DeFi debit cards represent a significant shift in how people manage and spend their digital assets. As DeFi continues to blend with traditional financial systems, these cards provide a crucial link, allowing for smooth transactions in both crypto and fiat currencies.

This fusion of traditional finance and decentralized technologies opens up a vast and untapped Total Accessible Market. With global cryptocurrency adoption on the rise, the expanding DeFi sector, and the evolution of DeFi debit cards, the market’s potential for growth and innovation remains strong and expansive.

Xuirin DeFi Debit Cards are poised to carve out a multi-billion dollar niche that merges the traditional payment system, which was estimated to exceed $40 trillion in 2022, with the burgeoning DeFi ecosystem, a $25 billion segment of the $1.4 trillion global cryptocurrency market.

If you want to buy xuirin tokens, you can click here

The Xuirin Finance Innovation – DeFi Debit Cards

Xuirin Finance offers a groundbreaking solution that combines the convenience of traditional debit cards with the innovation of decentralized finance – the Xuirin DeFi Debit Cards. These cards have immense potential.

First, by partnering with major payment networks like Visa and Mastercard, Xuirin Cards allow users to effortlessly spend their cryptocurrency at millions of locations worldwide that accept standard credit and debit cards. This feature eliminates barriers to using cryptocurrencies for everyday transactions.

Second, the DeFi Debit Cards champion financial inclusion by reaching those without access to conventional banking services. This outreach extends beyond borders to the underbanked and unbanked worldwide, fostering greater financial participation and empowerment.

Moreover, the introduction of Xuirin Debit Cards enhances the global appeal of decentralized finance. Attracting both seasoned crypto enthusiasts and newcomers, these cards build trust and credibility within the crypto ecosystem by integrating DeFi technologies with established financial systems.

Additionally, the introduction of loyalty programs, cashback offers, and other personalized incentives for users of these DeFi Debit Cards could enhance customer retention and acquisition strategies, further solidifying market leadership and continuous growth.

Conclusion

Xuirin Finance’s venture into the DeFi Debit Card arena represents a significant foray into a market brimming with untapped potential. Offering unparalleled convenience, inclusivity, and the potential to drive widespread cryptocurrency adoption, these cards seamlessly blend traditional and decentralized finance.

Leading the way in capturing a substantial share of the burgeoning DeFi Debit Card market, Xuirin Finance stands at the forefront of creating significant revenue opportunities as the demand for seamless crypto-to-fiat transactions grows, signaling a path for innovation and expansion in this multi-billion dollar domain.

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Bitcoin Prints Bull Flag in Push to Hit $77,000 Amid TradFi Takeover

Mark Brennan
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Bitcoin Prints Bull Flag in Push to Hit $77,000 Amid TradFi Takeover

Bitcoin (BTC) could surge to a new high after the cryptocurrency recently printed a fresh bull flag amid growing demand from institutional investors.

Roughly two weeks after setting its current all-time high at $73,750, experienced market analyst Ali Martinez is now tipping Bitcoin to break that record in the coming days. The forecast is based on a technical analysis of Bitcoin’s 4-hour chart, which shows a new bull flag on that timeline.

A bull flag is an indicator of the continuation of an uptrend. In Bitcoin’s case, the recent drop below $61,000 paved the way for the formation of a bull flag. Following the downtrend, Bitcoin bounced back within the $67,000 to $70,000 zone for a consolidation phase.

The asset has now established a foothold well above $70,000 and could reach as high as $77,000 based on the current bull flag pattern. Nonetheless, Martinez does not put a timeline for the projected 10% increase.

TradFi Taking Over Bitcoin

For most of its 13-year existence, Bitcoin has largely been an asset owned majorly by retail investors. However, that designation has since changed even more clearly with the recent launch of spot Bitcoin ETFs in the United States.

These funds, mostly backed by institutional players, now hold an estimated 4% of the total Bitcoin supply. On-chain data also attests to this move, including a deviation from BTC ownership distribution in previous bull cycles.

As CryptoQuant data shows, the current market cycle is seeing old whales (or existing large Bitcoin owners) selling their portfolios to new whales (traditional financial institutions). This phase is different from previous runs where BTC flowed from existing whales to retail investors.

Meanwhile, optimistic Bitcoin investors argue that this change in supply dynamics could increase BTC’s value. Several bullish predictions tip Bitcoin to trade anywhere between $100,000 to $150,000 this year, while the most eye-catching of them expects prices as high as $500,000 by 2025.

Mark Yusko Explains Mathematical Logic Behind $150K Bitcoin Prediction

Abdulkarim Abdulwahab
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Mark Yusko Explains Mathematical Logic Behind $150K Bitcoin Prediction

Morgan Creek Capital Management CEO Mark Yusko has explained the logic behind his daring $150,000 price prediction for Bitcoin. 

Yusko made his latest remarks in a recent interview on CNBC, during which the industry pundit was asked to clarify the mathematics behind his expectation of $150K by 2025 for Bitcoin. 

The Maths Behind BTC $150K Outlook

Yusko revealed that the figure is grounded in the fair value suggestion based on Metcalfe’s law model. He highlighted that Bitcoin’s fair value is approximately $50,000, while the impending halving is about three weeks away.

Explaining further, he noted that the halving event reduces block rewards, representing the amount of money given to miners for securing the Bitcoin network. According to Yusko, many miners face challenges when these rewards are halved. He noted that it historically leads to a rise in the price of Bitcoin and its fair value.

Meanwhile, the expert pointed out that this cycle is somewhat different due to the emergence of transaction fees alongside block rewards attributed to Ordinals and Inscriptions.

Based on this premise, Yusko envisioned a scenario where Bitcoin’s fair value reaches only $75,000 in this cycle. He explained the factors that would influence this $75K fair value. Among them was the view that there would be significant interest in Bitcoin following the halving, with many people experiencing FOMO.

Yusko highlighted that Bitcoin has historically reached about twice its fair value in each cycle. He cited the 2021 cycle when BTC’s fair value was estimated at $30,000, but the asset peaked at around $69,000.

As a result, he expressed his belief that a two-times fair value scenario would unfold, making the $150,000 prediction realistic.

Other prominent entities in the crypto space, such as Standard Chartered, Tom Lee, and Robert Kiyosaki, also believe that a $150K BTC is feasible this cycle.

Bitcoin To Peak 9 Months After Halving

Meanwhile, the CNBC correspondent inquired about the path to $150,000, referencing Yusko’s previous prediction of a blowoff top in 2024 and questioning whether this event is still anticipated before reaching $150K.

Yusko clarified that the significant movement typically occurs post-halving. He explained that following the halving, demand would surge due to ETFs and other interested parties, while BTC’s supply of new coins already decreased from 900 a day to 450 BTC.

As a result, he stressed that the price has to rise with more demand than supply. The expert expects the ascent to become more exponential or parabolic towards the end of the year.

Yusko noted that historically, Bitcoin’s peak occurs approximately nine months after the halving, towards the end of the year, before the onset of the next bear market.

Dogecoin Spikes 44%, Sets Eye to Overtake XRP

Sam Wisdom Raphael
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Dogecoin Spikes 44%, Sets Eye to Overtake XRP

Dogecoin (DOGE) has spiked 44% over the past week, capitalizing on the recent market-wide rebound to surpass Cardano (ADA), with its eyes now set on XRP.

Dogecoin had witnessed one of the largest declines during the recent crypto market slump, dropping 40.6% from the previous yearly high of $0.2067 on March 5 to a low of $0.1226 on March 20. 

Interestingly, being one of the biggest losers in the previous market downturn, DOGE has now secured a spot among the biggest gainers amid the market recovery. Dogecoin secured a massive 18.56% intraday increase on March 20, essentially breaching multiple resistance points to reclaim $0.15.

Dogecoin Spikes 44% in 1 Week

Since then, the cryptocurrency has persistently witnessed a market uptrend, recording six winning sessions over the past eight days. Amid the upsurge, Dogecoin has clinched newer heights, breaching its previous yearly high of $0.2067. 

DOGE is now one of the few assets that have now surpassed its previous yearly peak. Its market run has come from an increase in interest, commanding $6.4 billion in 24-hour volume amid a 97% increase. The DOGE/USDT pair now commands the fourth largest volume on Binance, reaching $1.32 billion.

Dogecoin Volume on Binance
Dogecoin Volume on Binance

The asset has met minimal resistance on its recovery path, surging 83% from the $0.1226 low on March 20 to a new yearly peak of $0.2251 today. Dogecoin has now increased 44% over the past week, with its recent price rally allowing it to surpass Cardano’s market cap.

Due to the price increase, Dogecoin’s market valuation has breached the $30 billion mark, now sitting at $30.97 billion. Interestingly, Cardano’s market cap now sits at $23 billion, about $7 billion less than DOGE. 

Cardano founder Charles Hoskinson asserted that the start of the altcoin season would be marked by Dogecoin overtaking Cardano in market capitalization. At the time, Cardano boasted a market cap of $26.89 billion, while DOGE had a valuation of $25.51 billion.

DOGE Looks to Surpass XRP

Dogecoin has now added $5.46 billion to its market value since then, with ADA losing $3.89 billion amid a price decline. DOGE, which currently sits eighth on the list of largest assets by market cap, now has its eyes set on overtaking XRP’s sixth position.

However, the asset must first surpass USDC, which currently has a valuation of $32.2 billion. Dogecoin would need to add $1.23 billion to its market valuation to overtake USDC. In addition, DOGE’s market cap must increase by $3 billion to surpass XRP’s valuation of $34 billion.

Dogecoin is bound to face formidable resistance on the journey to surpass USDC and XRP. To breach the $34 billion market cap, Dogecoin’s price would need to surge to the $0.2366 price level. The last time DOGE saw this value was in November 2021, during the 2021 bull run.

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