Is Dogecoin (DOGE) About to Outrank Cardano (ADA) Again?

Written By:
Iyiola Adrian

Reviewed By:
Jahnu Jagtap

Is Dogecoin (Doge) About To Outrank Cardano (Ada) Again

Dogecoin (DOGE) is getting close to taking back its spot from Cardano (ADA) in the crypto ranking. Right now, DOGE is in ninth place, but after a 3% price jump, it’s closing the gap with ADA. 

DOGE’s market value is now $25.35 billion, while ADA’s is slightly ahead at $25.71 billion. If this trend continues, DOGE might flip ADA again very soon.

According to CoinMarketCap, DOGE is now priced at $0.1704 with a 4% gain in market cap A reason for this is the 3.16% rise in open interest, according to data from Coinglass 

Doge Open Interest
DOGE Open interest | Source: Coinglass

Around $1.5 billion DOGE has been committed to trading. If this momentum keeps up, Dogecoin only needs about $360 million more to overtake Cardano in rankings.

A while ago, Cardano managed to pass Dogecoin because DOGE’s price dropped. This happened because of a bearish trend, at the time the price was struggling to go up, and investors started selling. That gave ADA the edge for a while. But now, things are shifting. 

Additionally, the number of active users of the DOGE blockchain has increased by 400%, to a total of 395,000, as recently confirmed by crypto analyst Ali. This means that many more people are now using Dogecoin, which can help drive the price higher.

Doge Daily Active Addresses
DOGE daily active addresses | Source: X

Crypto markets move quickly, and a lot can change in one night. Right now, DOGE is gaining strength, but it still needs a little more push to pass Cardano. 

Also Read: FOMC Meeting Today: How Will the Crypto Market React?



Iyiola is an experienced crypto writer specializing in simplifying complex blockchain and cryptocurrency topics for a broad audience. With expertise in ICOs, DeFi, NFTs, and regulatory updates, he offers valuable insights to help readers make informed decisions. He is proficient in SEO optimization.
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Jahnu Jagtap, a crypto enthusiast since 2020. Loves to guide others to understand blockchains, crypto currencies, NFTs, Metaverse and everything in Web3. He is passionate about his work and never stops his research on crypto.