Elon Musk and the Market Await DOGE’s Move to the Top 7

Also Read: Dogecoin: $1000 Weekly Since Launch Worth $181 Million in 2024

Elon Musk and the Market May Lead DOGE Past XRP and TON

Since its inception and launch in 2013, Dogecoin has remained a catalyst in the digital asset market. Birthing the meme coin subsect, it has enjoyed a massive community of supporters. Subsequently, that group has not ceased in its championing of the asset as it competes with cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).

That passion and support have led the original meme coin to be situated as the 9th largest digital asset by market cap. However, there could be room for Dogecoin to go even higher, as Elon Musk and the market anticipate DOGE’s potential move into the top 7.

The asset has not had the best month, with it down more than 4% over that time according to CoinMarketCap. However, it is still performing better than a host of the market that is down exponentially in that time.

Also Read: Dogecoin Down Nearly 20%, Will It Rebound On The Weekend?

Moreover, it could be set to face an impressive surge in value from the impending Bitcoin Halving Event that should have a massive impact on the market as a whole. Currently, for the asset to enter the top 7, it would need to pass Ripple (XRP) and Toncoin (TON).

Ripple has faced some concerns regarding its ability to maintain the seventh spot. Furthermore, TON has recently surpassed Dogecoin due to its momentum. Specifically, its Telegram integration has greatly increased its value over the last month.

However, Dogecoin’s $21 billion market cap is not far off from Ripple and Toncoin’s $21.2 billion and $26.5 billion market cap respectively. If the hype continues from people like Musk, it could very well eclipse the two assets. Such a jump would then make DOGE the fifth-largest non-stablecoin asset on the planet.