The cryptocurrency market, with special features on altcoins like Dogecoin (DOGE), is witnessing volatility as prices rise and fall on the heels of varying sentiment. Notably, the market experienced a mild rally ahead of the expected announcement of a policy shift by the U.S. government. However, positive anticipation from the Digital Asset Summit held in New York appears to have waned.

DOGE challenges ADA for eighth spot

The fluctuation has positioned Dogecoin to flip Cardano (ADA) from eighth place in the rankings, per market capitalization. The largest meme coin in crypto was in a rivalry with Cardano in March, with each 

They opine that a rebound in the price of DOGE could see the meme coin’s market cap soar past that of ADA, which is now pegged at $25.08 billion.

As of this writing, ADA has declined by 2.64% to trade at $0.7072, while its trading volume is also downward. In the last 24 hours, trading volume dipped by 24.39% to $831.95 million.

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