Connect with us


Breaking News

Dogecoin Replaces Cardano as 6th Largest Cryptocurrency

Dogecoin Replaces Cardano as 6th Largest Cryptocurrency

Published

on

Lately Dogecoin (DOGE) has been behaving more like a greyhound and less like the Shiba Inu that represents the meme-based cryptocurrency.

The price of DOGE has increased 150% from $0.0594 to $0.15 since Tuesday – with the price surging 74% in the past 24 hours alone, CoinDesk data show.

Advertisement

With the rally to six-month highs, DOGE has replaced Ethereum competitor Cardano’s native token ADA as the sixth largest cryptocurrency in the world. At press time, DOGE, which was started as a joke in 2013, had a market cap of about 17.5 billion, while ADA had a market value of $14.5 billion. DOGE’s market cap currently exceeds that of more than 120 members of the S&P 500.

READ ALSO:   Breaking:Sunday Ighoho Storms Igangan Following Attack On Yoruba Community

DOGE seems to be rallying on the back of long-time DOGE fan Tesla CEO Elon Musk having wrapped up his purchase of Twitter. In the past, Musk has vouched for using DOGE to limit spam and bots on Twitter and charge users for their tweets.

Advertisement

According to Cardano founder Charles Hoskinson, Musk’s takeover of Twitter has increased the probability of DOGE merging with the social media platform. On Friday, Hoskinson invited Dogecoin to become a sidechain on Cardano.

It is still unclear what Musk plans to do with Dogecoin. That leaves the door open for continued speculation and price volatility.

Advertisement
READ ALSO:   Any Attempt To Recover Grazing Routes Will Be Resisted – Akeredolu to FG

According to data analytics firm Santiment, Shiba Inu, the self-proclaimed Dogecoin killer, has historically followed DOGE higher and therefore could soon rally as well.

Advertisement
Advertisement







Top Stories10 hours ago

Serving NYSC members can apply – FIRS gives update on recruitment exercise

Top Stories10 hours ago

Supreme Court allows Pennsylvania to count contested provisional ballots, rejecting Republican plea

Tech10 hours ago

New Zealand introduces new visa category to support seasonal workers in 2025

Politics10 hours ago

Oluremi Tinubu Must See Young, Malnourished Detainees As Her Own Children, CISLO

News10 hours ago

Electricity Consumers Demand Disconnection Over Rising Tariffs

Top Stories10 hours ago

EFCC arrests Edo Accountant-General, others ahead of Gov Obaseki’s handover

Entertainment23 hours ago

“Some men think I’m misleading their wives, but I’m not advocating for divorce or separation cos I love family” – May Edochie corrects misconception

Top Stories24 hours ago

What You Need To Know As Man Utd Announce Amorim As New Manager

News24 hours ago

Woman stabs her husband to d3ath in Ibadan

News24 hours ago

Court Grants N1.1Bn Bail To 114 Protesters Accused Of Burning Public Facilities

Top Stories24 hours ago

Tinubu rejects NEC’s proposal to withdraw tax bill, urges Council to follow ‘legislative process’

Politics1 day ago

Speaker Obasa Presents Vehicles To Lagos Assembly Senior Staff

News1 day ago

FIRS begins recruitment of tax officers nationwide (how to apply)

Entertainment1 day ago

Burna Boy’s mum must beg me on national TV for forgiveness – Speed Darlington

Entertainment1 day ago

Unauthorized use of police uniform: VeryDarkMan granted bail on stringent terms

Also Read...