Cardano (ADA) on Verge of Overtaking Dogecoin (DOGE)

Cover image via U.Today

Dogecoin's recent performance has been underwhelming, marked by increasing sell-off pressure and concerning technical indicators that threaten its market position. Meanwhile, Cardano (ADA) is rapidly closing the gap in market capitalization, hinting at a potential ranking shift.

Dogecoin's price has remained stubbornly around $0.1733, trapped in a bearish trend. This bearish pattern has prevented it from overcoming crucial resistance levels. A significant factor contributing to this decline is the formation of a death cross—a bearish technical indicator signaling sustained weakness—where the 50-day moving average has fallen below the 200-day moving average. Previous：House of Doge and Dogecoin Foundation Unveil Board-Elect, Advisors and Global Dogecoin Adoption Plans (17 Mar) Next：Dogecoin (DOGE) Forms Very Rare Death Cross Versus Bitcoin