Dogecoin Price Prediction as DOGE Overtakes Cardano in Market Capitalization Rankings – Time to Buy?

cryptonews.com:

The Dogecoin price has slipped by 2% in the past 24 hours, yet its fall to $0.060437 hasn't prevented it from overtaking Cardano (ADA) in the cryptocurrency market's capitalization rankings.

DOGE is now down by 4% in the past week, yet ADA's even bigger drop over this time (at around 5%) means that the latter has fallen one place below the meme token, which now sits in eighth place overall.

Of course, with DOGE also down by 21% in a month, it's rise to eighth has hardly come from a show of strength, with the token also down by 14% since the beginning of the year (even though many major tokens have actually risen since January).

However, the distant possibility of Twitter introducing DOGE payments continues to provide hope to the Dogecoin community, which may potentially see big gains before too long.

DOGE's indicators are all looking pretty week and oversold right now, with its 30-day moving average (yellow) reaching a new low in relation to its 200-day average (yellow) today.

At the same time, the meme token's relative strength index (purple) is about to touch 30, which again suggests that it's majorly oversold and undervalued.

While this looks as though DOGE has bottomed out, the coin's support level (green) continues to decline, meaning that its price could fall a little further across the next few days.

Such uninspiring signals come despite the news that Dogecoin has overtaken Cardano in the capitalization rankings, although as noted above this more to do with ADA's weakness than DOGE's strength.

Indeed, DOGE has already flipped ADA on a number of occasions in the past few weeks, and it's likely that ADA could flip DOGE back if it recovers sooner than the meme token.

Regardless, the sustained weakness of DOGE's indicators