DOGE May Flip ADA in Terms of Market Cap in the Coming Weeks

• DOGE has printed a 24-hour gain while ADA’s price is slightly down during the same time period.
• The gap in market cap between ADA and DOGE has been narrowed to $1.2 billion.
• Technical indicators suggest that DOGE will continue to strengthen against ADA.

The majority of crypto prices have risen over the last 24 hours according to CoinMarketCap. Looking at the prices of Cardano (ADA) and Dogecoin (DOGE), ADA’s price is slightly down over the last 24 hours while DOGE’s price has risen 1.92% during the same time period.

Both ADA and DOGE are up over the last 7 days. At press time, ADA’s weekly price performance stands at 3.94%. Meanwhile, DOGE’s price has risen 7.82% in the last week. 

The respective price increases of DOGE and ADA over the last 24 hours and 7 days has seen DOGE’s market cap rise to $12,640 billion, while ADA’s market cap stands at $13,863 billion. With the difference in market estimated to be around $1.2 billion, DOGE may be able to flip ADA in terms of market cap in the coming weeks.

Looking at the daily chart for DOGE/ADA, DOGE has been attempting to make a move on ADA for the last week. All of these attempts failed, however, as ADA’s price was able to hold its own. There is still a chance for DOGE to gain on ADA as the DOGE/ADA pair is currently trading above the 20-day EMA line.

However, the pair will have to overcome the resistance at 0.2529043 ADA before DOGE investors can start getting excited about the possibility of DOGE flipping ADA in terms of market cap.

Should this happen, then DOGE will flip ADA in the weeks that will follow. Further support for the belief that DOGE will flip ADA in terms of the market cap will be when the 20-day EMA for DOGE/ADA crosses above the 50-day EMA.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.