Dogecoin (DOGE) Market Cap Surpasses Porsche Amid ETP Launch. Top Altcoins Dominate the News Cycle

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As a seasoned researcher with over a decade of experience in the crypto market, I must admit that the current surge in altcoins is nothing short of exhilarating. The meteoric rise of Dogecoin (DOGE), surpassing luxury brands like Porsche by market cap, is a testament to the power of memes and the potential of this space. The upcoming launch of Valour Dogecoin ETP on Sweden’s Spotlight Stock Market adds another layer of intrigue to DOGE’s trajectory.

Cryptocurrencies other than Bitcoin are experiencing a boom and grabbing attention in the news. Specifically, Dogecoin (DOGE) has outpaced luxury car manufacturer Porsche in terms of market value following reports of a new DOGE Exchange-Traded Product (ETP). Meanwhile, top alternatives like Cardano (ADA), Ripple (XRP), Stellar (XLM), and Ether (ETH) are making significant strides, pointing towards the approaching altcoin rally.

In recent times, there’s been a lot of buzz about altcoins as they continue to post impressive gains. For instance, Ethereum, or ETH, climbed more than 7% in the last seven days and is now trading above $3,500. Moreover, prominent altcoins such as Ripple (XRP), Cardano (ADA), and Stellar (XLM) have also experienced significant increases, with gains of over 10% during the same period.

Join us as we explore the top gainers and potential winners as the altcoin season inches closer.  

Dogecoin (DOGE)

Dogecoin (DOGE), initially known as a joke in the cryptocurrency world, has been making headlines following Donald Trump’s victory in the US presidential election. Over the past month, DOGE experienced an impressive surge of 194% and is now ranked 7th largest with a market cap approaching $60 billion. The meme-based coin gained traction after Trump announced the creation of the Department of Government Efficiency, which has been nicknamed DOGE. Trump believes that this department will help his administration streamline government processes, reduce unnecessary regulations, cut wasteful spending, and reorganize federal agencies – all crucial steps for the “Save America” Movement. Elon Musk and Vivek Ramaswamy have been appointed to lead the new department.

It is predicted that the price of DOGE may increase following DeFi Technologies’ introduction of Valour Dogecoin (DOGE) ETP on Sweden’s Spotlight Stock Market. This ETP enables both retail and institutional investors to invest in DOGE without needing to own the asset directly. As Dogecoin’s popularity and momentum continue to grow, it has even surpassed the market capitalization of luxury car manufacturer Porsche, with a market cap now over $58 billion, exceeding Porsche’s $56.1 billion market value.

Cardano (ADA) Gains 25%

Since Donald Trump’s election victory in 2016, Cardano (ADA) has seen significant growth. Weekly active addresses on the Cardano network have risen since the cryptocurrency market rally started following Trump’s win on November 6th. This surge in activity and large investor purchases suggests a positive outlook for ADA. The price of ADA also increased after the Cardano Foundation, its developers, released an updated proposal for the Cardano Constitution to enhance network governance. The revised proposal includes adjustments to constitutional workshops, social media discussions, and expert and community feedback to make the Cardano governance framework more accessible and clear for a broader audience. Additionally, interest in Cardano (ADA) increased after its founder, Charles Hoskinson, announced his plans to contribute to U.S. crypto policy under Donald Trump’s incoming administration.

Cardano’s gained over 25% in the past week, currently trading at $1.00.

Cross-Border Payment Network Ripple (XRP) Continue As a Top Gainer

Following the news of Gary Gensler’s departure, Ripple (XRP) has experienced a significant surge in value. Ripple Labs, the company behind XRP, has been involved in a high-profile legal dispute with the securities regulator for some time now, which has come at a considerable cost. In 2020, this regulator filed a lawsuit against Ripple, alleging that they had violated securities laws. Consequentially, several prominent exchanges like Coinbase, Kraken, Bitstamp, and Gemini decided to remove XRP from their platforms. However, Ripple saw some reprieve in 2023 when a partial victory ended the Securities and Exchange Commission’s (SEC) three-year pursuit of the company. The Southern District of New York Court granted a partial victory to Ripple in its case against the SEC, with Judge Analisa Torres ruling that XRP is not inherently a security. As a result, XRP’s price has climbed by over 29% in the past week, indicating a positive trend.

Following Chris Giancarlo’s prediction, Ripple may have reason to celebrate as he expects the Securities and Exchange Commission (SEC) to dismiss their ongoing case with the company.

Husky Inu (HINU) Expected Surge Upon Exchange Listing

With Bitcoin currently valued at an impressive $95,252 and top alternative cryptocurrencies hitting record highs, savvy investors should seek out reasonably priced alternatives to capitalize on the ongoing bull market. And that’s where Husky Inu comes into play.

The cryptocurrency Husky Inu (HINU) is the newest meme coin to emerge on the Solana platform. This new coin aims to deliver greater value and functionality to its users by utilizing the robust Solana blockchain. The project and its token, HINU, aspire to stand out in the crowded meme coin market by fostering a strong community through innovative features and increased rewards.

Husky Inu is busy developing some intriguing projects, such as an Earn App and a Decentralized Exchange. The Earn App will give users HINU tokens as rewards for participating in the project, while the Decentralized Exchange will make it easier for trading to happen in a decentralized manner, enhancing the usefulness and worth of HINU coins. Husky Inu stands out among typical investment avenues with several distinctive attributes, like a limited token supply, an automatic reduction mechanism, swift transactions, and charitable voting options.

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2024-11-28 20:00