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Dogecoin (DOGE) Eyes XRP’s Ranking, Can 10% Rally Propel It Forward?

Thu, 11/04/2024 – 9:19

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The Dogecoin (DOGE) price is in a dramatic resurgence today as it inches forward by 10% to bring its spot valuation to $0.1986. The dominant meme coin has soared by 3.68% in the past 24 hours and by more than 10% over the trailing seven-day period.

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Run for XRP’s ranking

This current rally is an ambitious one for Dogecoin considering the state of the broader digital currency ecosystem. After more than a seven-day drawdown and erratic growth, for Dogecoin, the current growth outlook is one of the best of the top 10 digital currencies and notably much more than that of XRP.

With its closer proximity to XRP, Dogecoin is eyeing a move where it can beat the digital currency in terms of market capitalization. At the time of writing, Dogecoin’s market cap comes in at $28,700,396,274, rankings eighth as against the $34,118,304,117 for XRP, which places it in seventh.

Though the difference is still quite large, should the trend in which Dogecoin continues to far outshine XRP and the majority of the altcoins continues, this flippening may happen in no distant time. 

Battle among top 10

For the longest time, only Bitcoin (BTC) and Ethereum (ETH) were guaranteed unmovable spots as the largest and second-largest cryptocurrencies by market capitalization. While there are projections that this might change in the future, the remaining altcoins have been recording different flips over the past year.

Solana once flipped Binance Coin (BNB) as its price action was rejuvenated in the second half of 2023. In recent times, Toncoin (TON) has managed to displace Cardano to become the ninth most valuable cryptocurrency on the market. With the constant changes in valuation in the ecosystem, the Dogecoin-XRP flippening may happen sooner than envisaged.

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