After briefly flip-flopping in the rankings, the native cryptocurrency of Cardano (ADA) has regained its position above Dogecoin (DOGE) in terms of market capitalization. This means that ADA has once again become the fifth largest cryptocurrency in terms of market cap, surpassing DOGE which previously held this position.
Twitter announces that the iconic Doge meme will take the place of the site’s original bird logo
On Monday, the meme cryptocurrency experienced a wild and unprecedented rally after Twitter announced it was replacing its iconic bird logo with the popular Doge meme. The news caused a surge in interest in the digital asset, and Google searches for the coin skyrocketed by nearly 2,000%, according to a report released on Tuesday.
This dramatic increase in attendance was likely because Doge is one of the most popular memes on social media. This sparked excitement among investors and cryptocurrency traders alike who saw an opportunity to capitalize on its newfound popularity.
Twitter’s unexpected decision caused an uproar among passionate Dogecoin supporters, leading to an explosive price surge that briefly propelled DOGE past Cardano, the cryptocurrency sitting above it in the ranks. Many are hoping for the digital asset to rise in value and recognition.
The meteoric rise temporarily placed Dogecoin ahead of Cardano, but whether it can sustain its momentum remains to be seen. With the crypto market continuing to evolve and mature, it is becoming increasingly common for crypto market positions to flip between two cryptocurrencies.
