Dogecoin (DOGE) may overtake VeChain (VET) in terms of market capitalization

Ethereum vs XRP isn’t the only battle going on in the cryptocurrency markets. If technical indicators are to be believed Dogecoin, the cryptocurrency based on a meme and developed to increase awareness around cryptocurrencies, would likely surpass investors favourite – VeChain, by the next bull run.

Dogecoin experienced a large pump at the end of August 2018 and has been one of the best performing cryptocurrency in September 2018, giving investors close to 30% return in the month of Septemeber. Currently, Dogecoin has a market capitalization of $681 Million and sits at 20 positions.

Dogecoin Charts for September 2018. Source: Coinmarketcap

VeChain, on the other hand, has had some big partnerships but they haven’t affected the price. VeChain price has been in a slow downward trend in the month of September. VeChain pumped in the first week of Septemeber reaching a market capitalization $1.008 Billion but has fallen down to $729 Million since then. VeChain currently ranks at the 19th position.

VeChain Chart September 2018. Source: Coinmarketcap

Dogecoin’s daily average volume has started to increase in the past week. On 23rd September the DAV was $12 million, on 25th September it was $15 million and currently is at $18.33 million. An 8% increase is currently needed in Dogecoin’s value for it to surpass VeChain. Due to a strong bullish trend around Dogecoin, it is possible it will surpass VeChain.

Dogecoin is currently trading at $0.005844, while VeChain is currently trading at $0.013190.

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