The latest market cap ranking shows Dogecoin flip Tether and Ripple to claim the fourth spot as the crypto’s fourth-largest coin.
The current milestone is attributed to dogecoin recent surge. This price hike saw DOGE record a new all-time high as well as climb the market cap ranking.
As of the time of writing, DOGE all-time is $0.68. As at the time DOGE attained a new ATH, its market cap was $88 billion and was $12 billion short of flipping the third largest coin, BNB.
Dogecoin current market cap is $86 billion and sits on the fourth spot, creating a gap of more than $12 billion from the fifth coin and more than $30 billion from the sixth largest coin.
Ripple remains crypto’s fifth-largest coin. With a market cap of more than $73 billion. XRP traders will be poised to see the coin back to its previous position.
The buyers will have to rally the market and pump ripple as high as $2 thereby increasing its market cap above $90 billion and increasing the probability of flipping the Binance coin.
From all indications, DOGE may still enjoy more price surges that will see it hit the $1 mark as the buyers will not stop rallying the market until it gets to the mark.
Based on price movement, DOGE may be moving too fast. From as low as $0.18, dogecoin surged by more than 100% in five days before a brief correction above $0.4. During the most recent price hike, the fourth coin by market cap increased in value by more than 50% in seven days.
DOGE gained more than 120% during the last seven and 91% in the last fourteen days. More increase is sure to follow as the $1 mark is the target.
Once at the $1 mark, dogecoin may face stiff opposition that may see the coin lose 25% of its value in few weeks and a worst-case scenario, half its value. The bulls may be unable to stop the price drop as there will be more intense sellers congestion.
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