As of March 18, Cardano (ADA) has officially overtaken Dogecoin (DOGE) in market capitalization, moving ahead in the top 10 cryptocurrencies.
Cardano’s market capitalization is currently around $24.99 billion, with each ADA token trading at about $0.7094. On the other hand, Dogecoin’s market cap stands at $24.96 billion, with DOGE tokens priced at approximately $0.1683.
Why Cardano is Gaining Attention
Cardano’s main advantage comes from its technology-focused approach. It uses a proof-of-stake blockchain, which is efficient, scalable, and designed for smart contracts. This makes Cardano ideal for decentralized apps (dApps) and decentralized finance (DeFi).
In January 2025, Cardano brought an upgrade called the Plomin hard fork. If successful as planned, this upgrade could improve the Cardano network. It may attract more developers to build on Cardano. Investors who prefer solid fundamentals and clear utility may find Cardano appealing. This is especially important as the cryptocurrency market moves away from speculation toward practical use.
Dogecoin Struggles as Investors Seek Stability and Practical Use
Recently, Dogecoin’s price dropped sharply, reaching its lowest point in four months at around $0.16. This price drop occurred even though Dogecoin briefly benefited from speculation around a possible ETF, similar to Cardano’s.
The struggle might be due to its unpredictable nature. Dogecoin was created as a “meme coin,” meaning its popularity depends heavily on social media and celebrity endorsements.
But relying heavily on popularity can cause problems. In 2025, the rise of new memecoins has created strong competition for Dogecoin. Coins like the offspring of Shiba Inu or tokens tied to trends on platforms like X often capture attention quickly. These new coins offer fresh or outrageous promises, diverting investors’ interest away from Dogecoin.
With so many competing memecoins, Dogecoin is now no more unique. Plus, DOGE’s inflationary supply (10,000 new coins per minute) doesn’t help when rival memecoins cap supplies or burn tokens to juice scarcity.
Investor sentiment is shifting too. If the market in 2025 rewards projects with real-world use and utility, Cardano is positioned strongly. Dogecoin, lacking practical use cases beyond its meme status, could struggle to stay relevant. Its price might remain near the late-2024 levels, between $0.28 and $0.48. Without a major practical use—like integration with X payments—or renewed hype, Dogecoin could lose ground. Cardano’s steady progress and growing memecoin competition threaten to overshadow Dogecoin.
