Charles Hoskinson, the founder of Cardano, has shared predictions about when the cryptocurrency season will probably start. Although Bitcoin has led the way thus far, Hoskinson’s assertion suggests that this may soon change.
The Official Altcoin Season Is Here When This Occurs:
Cardano Founder Hoskinson stated in a post on X (previously Twitter) that when Dogecoin (DOGE) switches Cardano (ADA), it will officially be altcoin season. The founder’s post on Cardano holds significance as ADA and DOGE, currently ranked eighth and ninth by market cap, compete head-to-head.
According to Hoskinson, the altcoin season may have already begun when DOGE briefly overtook ADA in market capitalization on March 5. However, as Bitcoin had a significant fall that caused a downturn in the entire crypto market, the meme currency fell below ADA once more.
Despite this, it might not take long for DOGE to overtake ADA regarding market capitalization. Additionally, the meme currency has outperformed ADA over the past seven days and is expected to rise in value soon, potentially overtaking ADA.
Hoskinson also mentioned that since DOGE wasn’t always in front of ADA, he carefully watched the charts. Nonetheless, the creator of Cardano disclosed that there are people who alert him when the “Doge comes roaring,” presumably alluding to the DOGE community.
As Shiba Inu (SHIB) boasts a market capitalization of around $23 billion, it currently ranks 10th, potentially surpassing ADA and another meme currency. It won’t be long before SHIB passes ADA if the SHIB run keeps up. The DOGE community will also be concerned that SHIB may soon overtake the leading meme coin as the most valued meme coin.
Meme Coins Are Putting Out A Message
Recently, meme currencies have outperformed other altcoins in terms of growth. Brad Garlinghouse, the CEO of Ripple, finds meme coins annoying as he observes several meme currencies flipping “utility tokens,” believing they have no place in the cryptocurrency ecosystem.
Solana-based meme coins are leading the charge this meme coin season. WIF has risen from below $1 in less than two weeks to as high as $2. It is now 54th in the rankings and four positions away from breaking into the top 50 crypto tokens by market capitalization.
The most popular meme coin in Solana, BONK, has also had a run, climbing to rank 49th in the top 50 crypto tokens by market capitalization. Another meme coin that might soon join the group of coins with a “billion market cap” is Myro. It was just added to Binance’s futures platform, and it may not be long until it is added to the spot trading list.
