Meme Coin Mania: Dogecoin’s Rally Sparks Speculation of XRP Overtake

Speculations over Dogecoin overtaking XRP in market capitalization next month are sparking speculations in the crypto market. Dogecoin, valued at over $24 billion, is witnessing a strong upward trend. Meanwhile, Ripple’s market cap, standing at nearly $30 billion, shows a sideways trend with potential signs of decline. 

 

BrokerReviewRegulatorsMin DepositWebsite
🥇Read ReviewASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSAUSD 100Visit Broker >>
🥈Read ReviewFMA, FSAUSD 50Visit Broker >>
🥉Read ReviewFSCA, CySEC, DFSA, FSA, CMAUSD 0Visit Broker >>
4Read ReviewASIC, BaFin, CMA, CySEC, DFSA, FCA, SCBUSD 200Visit Broker >>
5Read ReviewFCA, CySEC, FSCA, SCBUSD 100Visit Broker >>
6Read ReviewFCA, FINMA, FSA, ASICUSD 0Visit Broker >>
7Read ReviewCySEC, FCA, FSA, FSCA, Labuan FSAUSD 100Visit Broker >>
8Read ReviewCBCS, CySEC, FCA, FSA, FSC, FSCA, CMAUSD 10Visit Broker >>
9Read ReviewASIC, CySEC, FSCA, CMAUSD 100Visit Broker >>
10Read ReviewIFSC, FSCA, ASIC, CySECUSD 1Visit Broker >>

 

While XRP is still in a prolonged legal battle with the SEC, XRP has maintained its position as one of the largest projects. However, according to some analysts, it could lose its spot to DOGE in the near future. 

A significant factor contributing to Dogecoi’s potential ascent is the backing it receives from Elon Musk. As one of the most influential figures globally, the Tesla CEO and SpaceX owner has openly endorsed DOGE, frequently leveraging social media to garner support from the meme coin.

To challenge XRP’s positions, Dogecoin’s market cap must reach at least $29 billion, having a price of $0.20 per DOGE. This target seems achievable given the current breakout rally indicated by a triangle pattern. The ongoing price momentum and increasing demand for meme coins boost the potential for Dogecoin’s growth. 

Achieving the $0.20 mark could elevate Dogecoin above XRP, making it the 7th largest crypto globally. The growing interest in meme coins and Dogecoin’s strong community and market dynamics suggest a high likelihood of this scenario. 

Looking forward, both DOGE and XRP now promise in the crypto real. Dogecoin’s distinct identity as a meme coin with dedicated followers and expanding use cases indicates continued growth potential. Despite regulatory hurdles, XRP maintains its significance in cross-border payments, supported by a solid technological infrastructure. 

As the cryptocurrency market evolves, DOGE and XRP are poised to maintain significant roles, presenting enticing investment opportunities. 

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
ABOUT THE AUTHOR See More
Avatar
Sophia Cruz
Financial Writer - Asian & European Desks
Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.
Related Articles