Benzinga – David Gokhshtein, a well-known advocate for Dogecoin (CRYPTO: DOGE), recently expressed his admiration for Cardano (CRYPTO: ADA), attributing it to his long-standing interest in the cryptocurrency.

What Happened: Gokhshtein, the founder of Gokhshtein, took to social media platform X formerly known as Twitter to voice his support for ADA. “I’ve always been a big fan of $ADA. That didn’t just happen overnight. You either love Cardano or not,” he wrote.

I’ve always been a big fan of $ADA. That didn’t just happen overnight.

You either love Cardano or not.

— David Gokhshtein (@davidgokhshtein) March 20, 2024

See Also: Shiba Inu Blockchain Shibarium’s Meme Coin DAMN Leads Board With 22% Single Day Gains, Active Accounts Spike 1059%

Why It Matters: Earlier, Gokhshtein had predicted a significant rally for both Dogecoin and Shiba Inu (CRYPTO: SHIB), another popular cryptocurrency. His tweet read: “I still believe that $DOGE and $SHIB will make tremendous comebacks as well.”

On the same day, major cryptocurrencies, including Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), rose following a dovish stance from the U.S. Federal Reserve. This development could indicate a broader shift in the market, potentially impacting altcoins like ADA.

Meanwhile, meme coin Floki Inu witnessed a 75% rally after announcing a sports partnership. This rally, along with other recent market movements, could signal a changing landscape for altcoins and their potential for growth.

However, Bitcoin’s potential downturn due to increasing profit-taking could also impact the broader cryptocurrency market, including altcoins like ADA.

Tracking Cardano’s Performance: As of the time of writing, Cardano is trading at $0.6273, according to the data from Benzinga Pro, marking a 69.04% increase over the past year.

In comparison, Bitcoin, the largest cryptocurrency by market cap, is currently trading at $65,528.96, reflecting a 132.88% increase over the same period. Ethereum has seen a 93.29% increase in value over the past year, while Dogecoin has surged by 100.80% during the same timeframe.

Read Next: Andrew Tate Says He Made $85M On Last DeFi Bull Run: ‘Meme Coin That’s Great..But Each Bull Run There..Innovating Blockchain Coins’

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