After its 26% rally in the last 24 hours, Dogecoin (DOGE) has flipped Cardano (ADA) in market cap, making the meme coin the 7th largest asset in the sector.

While the cryptocurrency market as a whole has enjoyed some strong upwards momentum in the last few months, DOGE couldn’t quite put together any uptrend as impressive as some of its peers, which lead to it falling behind them.

Over the last day, however, Dogecoin finally seems to have observed some sharp increase of its own. At the time of writing, DOGE is trading around $0.0984, up 26% in the past 24 hours.

Here is a chart that shows how the original meme coin has performed recently:

As you can see in the above graph, the price of Dogecoin had been consolidating during most of the past month, but the trend has significantly deviated over the last day.

The reason behind this strong surge in the asset’s value seems to be the fact that Elon Musk’s Twitter has changed its icon to an image of the popular Doge meme, on which the cryptocurrency is based.

It’s currently unclear what this move means, or if it’s a change that would stick around for too long. Nonetheless, the switch to the Doge icon has been enough to build up sufficient hype around the meme coin to fuel this price rally.

Following this surge, there also looks to have been some huge whale transfers made on the blockchain, as data from the cryptocurrency transaction tracker service Whale Alert shows.