Dogecoin, the iconic meme cryptocurrency, has outperformed Cardano in terms of market capitalization, as investors flock to the token with hopes of a more significant role on Twitter.
The popular social media platform recently rebranded as the “everything app” X on July 24, igniting speculation about Dogecoin’s potential integration.
At the time of writing, Dogecoin‘s price experienced a 2.5% surge in the past 24 hours, reaching $0.0789. Over the past week, Dogecoin surged by 13.8%, securing its position as the best-performing coin among the top 10 cryptocurrencies.
Meanwhile, Cardano (ADA) faced a decline of 4.5% over the same period, causing its market capitalization to fall below that of Dogecoin.
Cryptic tweets from Twitter owner Elon Musk played a pivotal role in driving the upsurge of Dogecoin. On a recent Tuesday, Musk tweeted a promotional video of the social media giant’s new logo, which had initially been shared by a Dogecoin designer.
The Tesla CEO also incorporated the Dogecoin ticker logo into the location field of his Twitter bio, further fueling speculation about potential collaborations between Dogecoin and the rebranded Twitter, now known as “X.”
Dogecoin’s recent price surge demonstrates investors’ growing interest and confidence in the meme coin. With a 2.5% increase in the last 24 hours and a remarkable 13.8% surge over the past week, Dogecoin solidifies its position as a top-performing cryptocurrency.
This growth has catapulted Dogecoin’s market capitalization above Cardano’s, making it a focal point for market observers.
Twitter’s rebranding as “X,” along with Musk’s subtle yet intriguing tweets, has sparked optimism about potential collaborations between Dogecoin and the popular social media platform.
As Twitter expands its offerings as the “everything app,” investors and the crypto community alike are closely monitoring for any official announcements about Dogecoin’s role within the platform.