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Will Dogecoin (DOGE) Flip Cardano (ADA) in Rankings Again?
As the cryptocurrency market continues to experience a rollercoaster of events, it’s crucial to track the on-chain activity and technical indicators that can impact the value of digital assets. In a recent update from renowned analyst Ali Martinez, it appears that Dogecoin’s current position is at a critical junction.
According to Martinez’s findings, DOGE’s price chart has formed a bullish pattern, which could propel the meme coin further up the rankings. Notably, active addresses for DOGE have seen an impressive 400% increase in just a short period, reaching a total of 395,000 users. This surge in activity may be a catalyst to challenge Cardano’s current standing.
The recent price surge and corresponding uptick in engagement on the platform could, in theory, be a precursor to Dogecoin reclaiming its previous spot as the third-largest cryptocurrency by market capitalization. However, any potential reversal in this trend would likely have severe consequences for DOGE’s future prospects.
As investors continue to monitor the situation closely, it remains crucial to pay attention to both on-chain activity and the overall sentiment surrounding DOGE.
Source: https://u.today/will-dogecoin-doge-flip-cardano-ada-in-rankings-again
