It seems like dogecoin (DOGE) has lately been behaving more like a greyhound and less like the Shiba Inu dog that represents the meme-based cryptocurrency as Dogecoin has replaced Cardano's ADA as 6th Largest Cryptocurrency.
The past week has been incredible for DOGE after what had been many months of lackluster sideways performance. Dogecoin has gain over 115% in past week.
DOGE seems to be rallying on the back of long-time DOGE fan Elon Musk, the Tesla CEO, having wrapped up his purchase of Twitter. In the past Musk has vouched for using DOGE to limit spam and bots on Twitter and charge users for their tweets.
According to Cardano founder Charles Hoskinson, Musk's takeover of Twitter has increased the probability of DOGE merging with the social media platform.
Dogecoin's market cap is now around $19.68 billion, whereas that of Cardano is around $13.4 billion.