Can Dogecoin Flip Ripple? Here's What It Would Take

Benzinga Neuro

April 07, 2024

The popular meme cryptocurrency, Dogecoin (CRYPTO: DOGE), is on the brink of surpassing Ripple-affiliated XRP (CRYPTO: XRP) in terms of market value, following a recent surge in price.

What Happened: Dogecoin’s price soared by over 10%, reaching a peak of $0.1975. The cryptocurrency is currently priced at $0.1995, according to the data from Benzinga Pro, making it the best-performing cryptocurrency among the top 20, outdoing its main rival, Shiba Inu (SHIB).

With this price hike, Dogecoin is now approaching XRP, which has only seen a modest 0.9% increase over the past 24 hours. According to CoinMarketCap data, the two cryptocurrencies are currently valued at $32.8 billion and $28 billion, respectively.

Dogecoin needs to increase its market value by approximately 17.14% to surpass XRP in terms of market value.

In the last 24 hours, over $3.86 million worth of Dogecoin shorts have been liquidated, accounting for the majority of liquidated positions ($6.42 million), according to the data from CoinGlass. Dogecoin also generated $2.44 billion in 24-hour trading volume, according to the data from CoinMarketCap, making it one of the most traded cryptocurrencies.

See Also: Is Shibu Inu Set To Skyrocket? Social Buzz And Token Burns Fuel Speculation

Despite this bullish trend, recent data from IntoTheBlock indicates that Dogecoin’s positive trend may be fragile, with mostly negative on-chain signals currently being observed.

Why It Matters: Dogecoin’s resurgence follows a period of downturns in the broader crypto sphere. The meme coin has seen a surge in investor interest and price increases.

Dogecoin has been rallying strongly as sentiment toward cryptocurrencies improved. This rally is seen as a new bull market for Dogecoin, with other meme coins like Dogwifhat also moving higher.

Meanwhile, the Bitcoin-Ether ratio, a significant indicator in the cryptocurrency market, is suggesting a potential warning for the ongoing crypto rally.

Read Next: Crypto Lending 101: Making The Most Of Your Idle Digital Assets

Image Via Shutterstock

Engineered by Benzinga Neuro, Edited by Kaustubh Bagalkote

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

Recommended

Trump Could Make Surprising Tech Announcement Any Day - Ad

Trump and Musk's Secret Plan to Redraw America's Borders - Ad

The $240M AI Disruptor - Ad

Popular

FTC asks judge to delay Amazon trial due to resource constraints

The Federal Trade Commission asked a federal judge on Wednesday to delay a trial in a case of using deceptive practices in its Prime subscription program, citing staffing and budgetary challenges at the government agency.

EPA likely to move to further limit federal protections for wetlands

The Trump administration on Wednesday announced it will reconsider the reach of the nation’s bedrock clean water law and likely further limit the wetlands it covers, building on a Supreme Court that removed federal protections for significant areas.

Strikes and Economic Unrest: Are You Prepared for What's Coming?

Strikes and Economic Unrest: Are You Prepared for What's Coming? - Ad

Louis Navellier has issued a chilling warning about the economic turmoil gripping America today. The rapid advancement of artificial intelligence and automation is reshaping industries and posing threats to jobs, pushing America's financial system to its limits. If you're not prepared, it could devastate your savings, investments, and even your retirement.

China's Viral AI Agent Manus Taps Alibaba's Qwen For Local Expansion: What You Need To Know

China's Manus AI, a viral autonomous agent developed by Tencent-backed startup The Butterfly Effect, is partnering with Alibaba's Qwen team to create a localized version as it gains global attention and draws comparisons to DeepSeek.

Ship owner says arrested captain of cargo vessel involved in North Sea collision is Russian

LONDON (AP) — The captain of a cargo ship that is a Russian national who remains in U.K. police custody, the vessel’s owner said Wednesday.

Consumer Confidence Nosedives -- Feb Data Confirms Worst AI Fears

Consumer Confidence Nosedives -- Feb Data Confirms Worst AI Fears - Ad

The latest economics numbers just came in, and they're disturbing to say the least! But there's something bigger happening...That's exactly why Dr. Martin D. Weiss, Founder of Weiss Ratings, has outlined 4 critical steps you need to take now before it's too late. The window of opportunity here is very short.

Palantir Calls For 'Software-First Approach' As Pentagon Spends Under 1% On Modern Warfare

Palantir Technologies Inc. Senior Counselor Samantha Clark has urged the Pentagon to embrace commercial software solutions or risk lagging behind global adversaries in an increasingly data-driven battlefield.

Trump administration halts $1 billion program that keeps aging affordable housing livable

The Trump administration is halting a $1 billion program that helps preserve affordable housing, threatening projects that keep tens of thousands of units livable for low-income Americans, according to a document obtained by The Associated Press.

Millionaire Trader: "My No. 1 Stock of the Decade" (Revealed Free)

Millionaire Trader: "My No. 1 Stock of the Decade" (Revealed Free) - Ad

The stock revealed right here just may be millionaire trader Jeff Clark's favorite stock ever. Because this one stock alone has been responsible for some of the biggest gains he's ever handed my readers... 195% in under a month... 85% in 14 days... 176% in 5 weeks... 120% in under 3 months... 55% in two days... 138% in 8 days... And even 222% in 8 days.

Rayonier Agrees To $710 Million New Zealand JV Sale, Aims To Strengthen US Operations And Reduce Debt

Rayonier agrees to sell its 77% stake in New Zealand joint venture for $710 million, aiming to reduce leverage and return capital to shareholders.

Elon Musk Says Ukraine Behind 'Massive Cyberattack' On X: 'We're Not Sure Exactly What Happened...'

Elon Musk stated that the reported "massive cyberattack" that his social media account X faced on Monday is suspected to have originated from Ukraine.

What Happens When Every Bureaucrat Is Gone?

What Happens When Every Bureaucrat Is Gone? - Ad

DOGE could be on the verge of replacing thousands of entrenched government bureaucrats with a new form of AI. This one move could save American taxpayers billions of dollars. But even more important to you as an investor ...It could light a fire under the AI market. And I believe six specific stocks could soar as a result.

Greenland in facts and figures

NUUK, Greenland (AP) — is having a moment in the spotlight as U.S. President Donald Trump maneuvers to gain control of the mineral-rich Arctic country. Here are some facts and figures about it:

Palantir Cofounder Peter Thiel Might Write A Book About Ancient Prophecies, The Antichrist, And Armageddon - He Thinks We're Ignoring The Real Threat

Billionaire tech investor Peter Thiel is exploring a book on ancient prophecies, the Antichrist, and Armageddon, warning that society is ignoring the threat of a one-world government—a concern he believes demands urgent attention.

Fed's Stealthy Move (Not Rates) Could Crash U.S. Market

Fed's Stealthy Move (Not Rates) Could Crash U.S. Market - Ad

$2 trillion has disappeared from the US government's books. The reason why is a new, secretive move being carried out by the Fed that has nothing to do with lowering or raising interest rates. According to Dan Ferris, you should consider moving money to a unique "escape" investment right away.

Japanese automaker Nissan's chief executive steps down after dismal results

TOKYO (AP) — Japanese automaker Nissan Motor Co.'s chief executive, Makoto Uchida, is stepping down after the company reported dismal financial results.

Oracle's Q3 Falls Short, But AI Demand Keep Long-Term Outlook Strong Say Analysts

Oracle shares are down after disappointing Q3 results. Analysts maintain ratings, but lower price targets and highlight strong AI growth.

Wall St. Legend Shocks With "Next Nvidia" Prediction

Wall St. Legend Shocks With "Next Nvidia" Prediction - Ad

When he recommended Microsoft at 38 cents... Google in 2005... and Nvidia before AI was mainstream, people called him crazy. Now they're calling him crazy again about this overlooked tech stock that's he's says could be "The Next Nvidia".

Cathie Wood Goes On Shopping Spree Amid Tech Bloodbath Monday: Loads Up On Tesla, Palantir, Coinbase And These Stocks

On Monday, Cathie Wood‘s Ark Invest made significant trades involving Tesla Inc. (NASDAQ:TSLA) , Palantir Technologies Inc. (NASDAQ:PLTR), Coinbase Global Inc. (N

Explainer: What's a recession and why is rising anxiety about it roiling markets?

WASHINGTON (AP) — Stock markets , consumers and businesses have started to , and economists are marking down their estimates for growth this year, with some even seeing rising odds of a recession.

The Same "Magic Pattern" That Predicted Trump's Win Now Predicts These Niche-Trades Will Surge!

The Same "Magic Pattern" That Predicted Trump's Win Now Predicts These Niche-Trades Will Surge! - Ad

It predicted Trump's sweeping victory. And now, this pattern says a handful of niche-sectors are poised to surge as President Trump fuels America's economic boom. For only $19, you can see how millionaire-trader Jeff Clark has used this "Magic Pattern" for over 40 years to generate over 1,000 winning trade recommendations.

Trump vs Musk? Federal Workers Unconvinced He'll Take Action: 'If They Don't Cut, Elon will, Comments Show Who's Really In Charge'

President Donald Trump has reportedly limited the authority of his billionaire advisor, Elon Musk, to dismiss federal employees. This development has stirred skepticism among the workforce and political circles.

Elizabeth Warren Raises Questions On Robert F Kennedy's Mar-A-Lago Dinners With Big Pharma: American People Deserve To Know About The Deals Made

Sen. Elizabeth Warren and other lawmakers raised concerns about Robert F. Kennedy Jr.'s private dinners with pharmaceutical executives at Mar-a-Lago, questioning his commitment to reducing corporate influence as Secretary of Health and Human Services.

The Fort Knox Cover-up? What It Means for Gold

The Fort Knox Cover-up? What It Means for Gold - Ad

Trump and Musk are demanding answers: Is Fort Knox empty? If the gold is gone, supply collapses, and prices could skyrocket instantly. Right now, I've uncovered 5 major gold predictions that could make this Fort Knox moment even bigger than people realize. One of them is already unfolding--and the window to act is closing fast.

Who is Mark Carney, the next prime minister of Canada?

TORONTO (AP) — Former central banker Mark Carney will become Canada’s next prime minister after a Liberal Party leadership vote in a landslide.

What makes Greenland a strategic prize at a time of rising tensions? And why now?

NUUK, Greenland (AP) — When U.S. President Donald Trump first suggested in 2019, people thought it was just a joke. No one is laughing now.

Warning: "The 2025 Tech Meltdown"

Warning: "The 2025 Tech Meltdown" - Ad

One of the biggest stock market events in 25 years is rapidly unfolding...The chaos is set to begin on May 21st. This is why the world's financial elite are panic-selling stocks at the fastest rate in a decade. So, will you be ready for what's coming?

Elon Musk's Ex-Wife Spills The Truth About What It Really Takes To Be A Billionaire: 'There Is No Roadmap, No Blueprint For This'

Justine Musk, the first wife of billionaire Elon Musk, once shared her unique insights on the journey to becoming a billionaire.

The U.S. penny costs nearly 4 cents to make. But for one sector of souvenir sellers, it's a living

NEW YORK (AP) — Donald Trump talks of big change in his second term of office. But he's not forgetting small change, either.

Trump, Musk & the Gold Play No One Sees Coming

Trump, Musk & the Gold Play No One Sees Coming - Ad

Fort Knox mystery could send gold skyrocketing. Because the real danger isn't missing gold. It's decades of Fed manipulation collapsing overnight. Right now, I've uncovered 5 major gold predictions that could make this Fort Knox moment even bigger than people realize. One of them is already unfolding.

Kroger Chairman and CEO resigns following investigation into personal conduct

Kroger Chairman and CEO Rodney McMullen has resigned after an internal investigation into his personal conduct.

Meet the federal worker who went rogue: I hope that it lights a fire under people

NEW YORK (AP) — To billionaire Elon Musk and his cost-cutting team at the Department of Government Efficiency, Karen Ortiz may just be one of many faceless bureaucrats. But to some of her colleagues, she is giving a voice to those who feel they can't speak out.

A $19 Secret to Potentially Life-Changing Gains

A $19 Secret to Potentially Life-Changing Gains - Ad

US attorneys for a Russian woman seeking to recover a megayacht target Antigua

SAN JUAN, Puerto Rico (AP) — Attorneys for the daughter of a U.S.-sanctioned Russian billionaire asked a U.S. federal court Tuesday for access to the financial records of officials including the prime minister of Antigua and Barbuda, whose administration is under scrutiny for seizing and selling the family’s 265-foot (81-meter) megayacht and not releasing documents related to the sale.

Facing competition from Big Tech, states dangle incentives and loosen laws to attract power plants

HARRISBURG, Pa. (AP) — Facing projections of spiking energy demand, U.S. states are pressing for ways to build new power plants faster as policymakers increasingly worry about protecting their residents and economies from rising electric bills, power outages and other consequences of falling behind Big Tech in a race for electricity.

This Is How the AI Bull Market Ends

This Is How the AI Bull Market Ends - Ad

They say this AI bull market can't go on for much longer...The truth is -- they're half right. The AI bull market as we know it right now will end...But it will then quickly evolve into a new type of market where a new type of AI stock will dominate. You want to be positioning yourself for this new AI bull market...

Canada to name a new leader while dealing with Trump trade war

TORONTO (AP) — looks set to pick a measured former central banker to deal with the threats tariffs pose against a pillar of Western free trade.

Canada Claps Back At 'Unjustified' Trump Tariffs On Dairy, Lumber

Canada's Trade Minister Mary Ng called the potential dairy tariffs "completely unjustified" and emphasized efforts to remove existing tariffs.

Wall Street Legend Now Calling Exact Day Next Market Crash Will Start?

Wall Street Legend Now Calling Exact Day Next Market Crash Will Start? - Ad

Perhaps no one on or off Wall Street has more accurate in calling the market turns of the past 7 years. From the bear markets of 2018 and 2022... to the roaring bull runs of 2021, 2023, and 2024. And now, Marc Chaikin is predicting the exact month (even the exact day!) the next crash is most likely to start--don't miss this huge and important new call.

Japan's Seven & i sells retail business to Bain Capital for $5.4 billion, plans IPO

Japan’s Seven & i, the parent company of the Japanese 7-Eleven convenience store chain, said Thursday it is selling its supermarket store assets to Bain Capital for about $5.4 billion.

Trending Now