"ADA Surge Predicted: Cardano Could Overtake DOGE and USDC, Says Analyst"
1min read Crypto analyst Tim Warren has shared an optimistic outlook on Cardano (ADA), predicting a significant price increase that could position the asset above Dogecoin (DOGE) and USD Coin (USDC). Warren believes that ADA could eventually rank among the top six or seven cryptocurrencies by market capitalization, a prediction that aligns with the views of the token’s creator, Charles Hoskinson.
Cardano’s ADA currently ranks ninth globally among cryptocurrencies, with a market valuation of around $28 billion. In contrast, USDC and DOGE occupy the seventh and eighth spots, boasting market caps of $56.47 billion and $38.57 billion, respectively. To surpass Dogecoin, ADA’s market value must rise by around 35%. To overtake USDC, the increase would have to be approximately 100%, assuming these competing assets maintain their current valuations.
Warren outlined two primary factors that could drive ADA’s price to $7. First, he suggested that a strong bull market would be a major catalyst for growth. Historically, the asset has experienced substantial gains during bullish market cycles, and Warren expects a similar trend to unfold if market conditions become highly favorable.
The second factor Warren highlighted is the U.S. government’s potential adoption of the Cardano blockchain for tracking financial transactions. He pointed out that if federal agencies opt to utilize Cardano’s blockchain infrastructure, it could trigger a massive surge in demand for ADA. To illustrate the impact of such adoption, Warren estimated that if the U.S. government integrates Cardano’s technology, ADA’s total market capitalization could reach $250 billion. With the current circulating supply of 35.9 billion tokens, this would translate to a price of $7 per ADA token. ADA must rise by 757% from its current trading value of $0.8167 to reach the target.
Cardano has shown resilience over the past few weeks, rebounding from a three-month low of $0.63 on February 3. The price briefly surged above $0.81. As of report time, ADA is valued at $0.8167, reflecting a 4.83% increase in the past 24 hours and a 16.22% gain over the past week.
