2 cryptocurrencies to reach $50 billion market cap in August 2024.
These cryptocurrencies have demonstrated resilience and a potential for rapid appreciation, positioning them for a possible market cap surge to $50 billion.
XRP (XRP)
Currently priced at $0.5964 with a market cap of $33.39 billion, XRP has been consolidating around the $0.64 resistance level. This legal resolution could propel XRP’s price upward, as seen earlier in July when XRP surged from $0.40 to $0.6387.
Although the price briefly retraced to $0.54, it has shown a robust 27% increase over one month, reflecting strong investor optimism.
Institutional interest is also growing, further boosting its bullish outlook. Additionally, data from Santiment highlights a surge in new wallet creations and heightened network activity, with 1,721 new wallets created in a single day and 47,363 individual addresses interacting on the network.
This increased participation underscores the growing interest in the XRP ecosystem. To reach a $50 billion market cap, XRP would need to increase by approximately 49.7%.
Dogecoin (DOGE)
Priced at $0.1324 with a market cap of $19.31 billion, Dogecoin has seen a notable 6% weekly gain.
Recent data from Whale Alert reveals significant movements of DOGE tokens, valued at over $61 million, suggesting that major investors are positioning themselves for potential gains.
On July 20, for instance, 400 million DOGE, valued at approximately $50.33 million, was moved from Robinhood to an unknown wallet.
Analysts are optimistic, projecting that Dogecoin’s price could surpass the $1 mark due to its strong community support and increasing acceptance as a payment method.
To reach a $50 billion market cap, Dogecoin would need to increase by approximately 159%.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
