2 cryptocurrencies to reach $50 billion market cap in the first half of 2024
The cryptocurrency market is showing signs of recovery, with the total market capitalization rising by approximately 2.50% in the last 24 hours to reach $2.55 trillion on May 18.
This ongoing bullish sentiment particularly benefits several cryptocurrencies on the verge of significant market cap milestones, notably the $50 billion mark.
Finbold has identified two altcoins—XRP (XRP) and Dogecoin (DOGE)—that could potentially reach a market cap of $50 billion by the first half of 2024. These digital assets have favorable conditions that could drive their market capitalization higher.
XRP
XRP’s price performance has been challenging for many investors, staying mostly below $1 and struggling to hold support above $0.50. Despite this, optimism is growing about XRP’s future. The ongoing legal disputes between Ripple and the Securities and Exchange Commission (SEC) could be resolved positively for Ripple, providing a significant boost for XRP.
Ripple’s upcoming stablecoin launch is anticipated to attract more users to its platform, benefiting XRP. This new development could drive further adoption and enhance Ripple’s ecosystem.
Dogecoin (DOGE)
By mid-2024, the meme coin DOGE seems poised to reach the $1 milestone and potentially achieve a $50 billion market cap. The large-cap meme coin has a fully diluted valuation (FDV) of about $28 billion and approximately 7 million on-chain holders.
Renowned crypto analyst World Of Charts suggests that Dogecoin is approaching a critical descending trendline, with a potential breakout that could trigger a 100% surge in its price, aiming for a target of approximately $0.29.
