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

$270,000 Drug. One Competitor. Billion-Dollar Market. - Ad

D.C.'s Quiet Plan for a New Tech Era - Ad

The Repeatable Strategy Behind 20+ Early Memecoin Wins (Revealed) - Ad

Congresswoman Marjorie Taylor Greene disclosed some new stocks recently. Unlike past trades in 2024 and 2025, the latest disclosure is rather unique.

Jim Cramer's '10 Stocks To Own For The Future' In 2000 Cost This Redditor A Decade Of Retirement, Says Having To Work 10 More Years Was 'Painful'

A Reddit user slammed Jim Cramer's stock picks at the peak of the Dot-Com bubble, saying that the CNBC host's suggestions cost him a decade of retirement.

The Next ETF Era Begins with Payments

The Next ETF Era Begins with Payments - Ad

After Solana and Hedera, another digital-asset ETF has arrived and it targets global money movement.

Joan Branson, wife of British billionaire Richard Branson, dies at 80

Joan Branson, the wife of British billionaire Richard Branson, has died at age 80.

Trump Withdraws Support For 'Wacky' Marjorie Taylor Greene In Sudden, Fiery Split: 'I Can't Take...'

President Donald Trump said he is withdrawing his endorsement of longtime ally Rep. Marjorie Taylor Greene — here's what happened.

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly - Ad

AI, electrification, battery storage, and data centers are pushing copper and silver demand sharply higher, even as supply stays tight. This region in Nevada offers rare multi-metal potential, and a new company has secured land in a district the surging district. It's one of the cleanest timing setups in the sector right now.

Scaramucci Says This One US Mistake Helped China Become a Manufacturing Superpower

Anthony Scaramucci recently highlighted what he considers a significant error by the US that enabled China to ascend as a manufacturing superpower.

Cathie Wood Bets Big On These Stocks As Bitcoin, Ethereum Crash —Dumps Instagram Rival

On Tuesday, Cathie Wood-led Ark Invest made significant trades, notably increasing its holdings in Bullish (NYSE:BLSH), Coinbase Glo

The Smart Money Copper Trade

The Smart Money Copper Trade - Ad

Quebec discovery. Strong grades. Roads and hydro in place. Funding secured for a busy drill calendar. Each assay can build scale and tighten the window for early entries as EVs and data centers pull harder on copper. Do not wait.

Silver Soars To Record Highs: It's Up 95% In 2025, The Best Year Since 1979

Silver prices surge over 5% as investors rush to secure metal amid tight supplies and global shortage concerns, driving up stocks and mining equities.

Nvidia, Dell, Coinbase, Gorilla Technology And Archer Aviation: Why These 5 Stocks Are On Investors' Radars Today

U.S. stocks closed lower on Monday, with the Dow slipping 1.2% to 46,590.24, the S&P 500 easing 0.92% to 6,672.41, and the Nasdaq dipping 0.84% to 22,708.07. These are the top stocks that gained the attention of retail traders and investors through the day:

The $43B Big Pharma Story is Starting Over-With a New Player

The $43B Big Pharma Story is Starting Over-With a New Player - Ad

Big Pharma once paid $43B for a small biotech with a similar platform. Now, a new company is following that same playbook, leveraging its patented delivery technology to attract partnerships and near-term revenue potential.

Warren Buffett Initiates Alphabet Position, Trims Apple In Q3 — Here Are Berkshire's Moves

Warren Buffett's Berkshire Hathaway took a new stake in a member of the Magnificent Seven, while lowering its stake in Apple in the third quarter.

US air travelers without REAL IDs will be charged a $45 fee

Air travelers in the U.S. without a will be charged a $45 fee beginning in February, the Transportation Security Administration announced Monday.

The Next Biggest Bull Run In Over 50 Years

The Next Biggest Bull Run In Over 50 Years - Ad

Gold has hit all-time highs, breaking $4,000 an ounce - but history shows it could be on the verge of its biggest bull run in over half a century... triggered by a likely major event, eerily similar to what happened in the 1970s. (It's NOT inflation or anything you're likely expecting.) Now, a top analyst says you can capture ALL of the upside without touching a risky miner or a boring exchange-traded fund. He sees extraordinary potential gains long term with very little risk.

Hours After Marjorie Taylor Greene's Public Rebuke, Trump Responds With Restraint: 'She's A Nice Person'

President Trump has changed his perspective on MTG after her unexpected resignation from Congress.

Jeff Bezos Says Almost Everyone Focuses On What The Next 10 Years Will Look Like—Here's What People Should Ask Instead

Amazon's latest surge in AWS growth and AI focus suggests that Jeff Bezos' long-standing philosophy of building around unchanging customer needs is continuing to shape the company's success more than a decade later.

They've Done It 20+ Times-Now They've Found a New Memecoin to Watch

They've Done It 20+ Times-Now They've Found a New Memecoin to Watch - Ad

Our analysts have built one of the most reliable track records in the memecoin space by recognizing early momentum signals many traders overlook. Their newest pick shows several of the same early indicators found in past standout performers. Get the details before this story spreads.

Why Is Sigma Lithium Stock Gaining Friday?

Sigma Lithium posts Q3 revenue of $28.5M, EPS loss narrows to 10 cents, as sales volumes rise 21% and lithium prices jump 33% Q/Q.

Christmas market in Germany opens after last year's deadly attack in the city of Magdeburg

BERLIN (AP) — The Christmas market in the German city of Magdeburg opened Thursday, nearly a year after it was the scene of a horrific that left six people dead.

Utility Over Hype: ETF Launch Alert

Utility Over Hype: ETF Launch Alert - Ad

This ETF isn't about speculation, it's about infrastructure. Seconds-level settlement, low fees, and institutional custody.

Buffett's Big Bet Banks Billions: Here's How Much Berkshire Hathaway Is Up On Alphabet

Buffett and his investment team at Berkshire Hathaway unveiled an investment in Alphabet stock in the second quarter.

Asian shares retreat in cautious trading ahead of Nvidia profit report

TOKYO (AP) — Asian shares retreated in cautious trading Wednesday ahead of an earnings report from that is seen as a bellwether for the recent craze for artificial intelligence technology.

$270,000 Drug. One Competitor. Billion-Dollar Market.

$270,000 Drug. One Competitor. Billion-Dollar Market. - Ad

Phase 3 trial targets recurrent pericarditis with an oral therapy that could disrupt the only approved treatment. And their heart failure program launches in 2026.

Meta Allegedly Concealed Evidence Of Social Media Harm, According To Court Filings: Report

Meta Platforms Inc. allegedly hid evidence of social media harm by shutting down a study on Facebook and Instagram's impact on mental health.

Eric Trump Lauds Bitcoin: 'Send $500 Million On A Sunday Night, Virtually No Fees'

Eric Trump has doubled down on his pro-crypto stance, promoting Bitcoin (CRYPTO: BTC) as a fix for inefficiencies in traditional finance and calling i

D.C.'s Quiet Plan for a New Tech Era

D.C.'s Quiet Plan for a New Tech Era - Ad

Why did federal agencies receive orders to "clear the runway" for a phenomenon most Americans haven't even heard of yet? And why are billionaires rushing in weeks before January 1? Whitney Tilson decoded the pattern.

Trump Admin Boasts Affordability Wins As Egg Prices Plunge 86%, Housing Costs Fall Nearly 14%, Despite Rising Grocery Inflation

The Donald Trump administration focuses on affordability for Americans, claiming success in lowering food and housing costs.

Trump Rolls Back Tariffs On Coffee, Beef And More As Price Debate Heats Up— Here's What You Need To Know

President Donald Trump signed an executive order on Friday that retroactively lowers tariffs on beef, coffee, bananas, and tomatoes, among other agricultural imports.

The Repeatable Strategy Behind 20+ Early Memecoin Wins (Revealed)

The Repeatable Strategy Behind 20+ Early Memecoin Wins (Revealed) - Ad

Few analysts have been able to consistently spot strong memecoin setups, but our team has developed a repeatable framework that has helped them identify high-momentum plays early. Now they've uncovered a new project showing similar characteristics, and they want you to see the full breakdown yourself.

Elizabeth Warren Warns Trump Making A 'Tremendous Mistake' By Selling Federal Student Loans To Wall Street: 'I'm Fighting Back'

Sen. Elizabeth Warren (D-Mass.) criticized President Donald Trump's plans to sell federal student loans to private companies, warning that the move could create windfall gains for Wall Street, at the expense of taxpayers and average working Americans.

Trump Hints At Tax Cut, John Bolton Warns Of Peace Prize Ambitions And More: This Week in Politics

Trump hints at major income tax cuts, while political tensions rise over military orders, Russia policy, and government shutdown threats.

The Next ETF Era Begins with Payments

The Next ETF Era Begins with Payments - Ad

After Solana and Hedera, another digital-asset ETF has arrived and it targets global money movement.

Ukrainian Naval Drones Cripple Two Russian Oil Tankers In Black Sea, Disrupt Moscow's Shadow‑Fleet Operations

Ukrainian naval drones struck 2 sanctioned tankers in Black Sea, critically damaging both and crippling a key Russian oil‑transport route.

Tax-Free Student Loan Forgiveness Expires In 2026, Who Owes More Next Year?

The American Rescue Plan Act of 2021 will make most student loan forgiveness tax-free until 2025, then borrowers may owe thousands in taxes.

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly - Ad

Dan Ives Calls Nvidia The 'Indisputable Rocky Balboa' Of AI And Gene Munster Agrees As The Jensen Huang-Led Tech Giant Faces Rare November Slump

Despite a rare November stock pullback and rising competition from Google and Broadcom, analysts including Dan Ives and Gene Munster continue to hail Nvidia as the leading force in the AI chip market.

Will Santa Claus Rally Fail? Wall Street Divided Amid Mounting Volatility, Bearish Options Activity

Analysts offered mixed signals on the S&P 500's near-term outlook making a Santa rally uncertain, pointing to potential volatility, amid atypical seasonality and rising bearish options sentiment.

The Smart Money Copper Trade

The Smart Money Copper Trade - Ad

Spanish court orders Meta to pay nearly half a billion euros in damages to media outlets

BARCELONA, Spain (AP) — Spanish legacy media companies in Spain scored a victory against social media giant Meta after a Madrid-based court ordered Thursday that it must pay news outlets nearly half a billion euros in damages.

Trending Now