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The cryptocurrency market, with special features on altcoins like Dogecoin ($DOGE), is witnessing volatility as prices rise and fall on the heels of varying sentiment. Notably, the market experienced a mild rally ahead of the expected announcement of a policy shift by the U.S. government. However, positive anticipation from the Digital Asset Summit held in New York appears to have waned.
$DOGE challenges $ADA for eighth spot
The fluctuation has positioned Dogecoin to flip Cardano ($ADA) from eighth place in the rankings, per market capitalization. The largest meme coin in crypto was in a rivalry with Cardano in March, with each
They opine that a rebound in the price of $DOGE could see the meme coin’s market cap soar past that of $ADA, which is now pegged at $25.08 billion.
As of this writing, $ADA has declined by 2.64% to trade at $0.7072, while its trading volume is also downward. In the last 24 hours, trading volume dipped by 24.39% to $831.95 million.