Speculations continue to grow if Cardano will be able to overtake Dogecoin in the year 2023, this article talks in detail about the same.
Cardano Price Prediction: Cardano has been levelling up and is expected to be a useful coin in the long term. The competition between Cardano and Dogecoin has been an interesting one. However, Cardano overpowering Dogecoin in 2023 is still a question in crypto enthusiasts mind.
Where does DOGE and ADA stand presently?
Currently, one token of Dogecoin is costing 0.0963 USD. The overall market cap for this meme crypto is 127.25 billion USD. Whereas, the Cardano token is at 0.3180 USD and the market cap is 107.42 billion USD. There is a difference of 20 billion USD in terms of market capitalization.
Comparison of Dogecoin and Cardano:
Dogecoin (DOGE) is acting less like a meme-based cryptocurrency Shiba Inu and more like a greyhound these days. After hitting a six-month high, in October this year, DOGE has overtaken Ethereum competitor Cardano’s native token, ADA, to become the sixth-largest cryptocurrency in the world. DOGE, which started as a joke in 2013, had a market cap of around $17.5 billion, while ADA had a market cap of $14.5 billion. DOGE’s market cap now exceeds that of his 120+ members of the S&P 500.
Cardano token ADA has shown a lot of strength and is considered one of the most investable coins right now. It will continue to grow in the coming years. However, Dogecoin has gotten a major push after Elon Musk took over Twitter, this year. Musk has openly spoken for Dogecoin and even vouched to Twitter to use it for preventing bots and spam and making payments. Dogecoin is also backed by various other celebrities.
ADA and DOGE, both are expected to hit the 1 USD mark in 2023. If we have a look at the past month, DOGE has been showing signs of recovery from the FTX fiasco. While in contrast, ADA has not been trading in green largely.