Dogecoin which once was one among the top 5 cryptocurrency is now flipped by Cardano and XRP
Polkadot, on the other hand, if rise 2x from here, can easily drag Dogecoin below and secure its position
The Dogecoin price rally was one of the most mesmerizing surge in the history of the cryptocurrencies. The asset rose nearly 1000% oflet until it hit the highs around $0.7 and slumped drastically during the BTC price crash.
However, many other assets including Bitcoin recovered to a larger extent within hours of the crash, yet DOGE price appeared to struggle hard to retrieve above $0.4. Therefore, Cardano price and XRP price gained enough momentum and jumped above, leaving behind Dogecoin.
Soon Elon Musk jumped in action and tried to uplift the sinking DOGE price and carried the price above $0.4. Nevertheless, it was again a short-lived one that tanked back below $0.4 in no time. And currently attempting hard to surpass these levels, yet gets rejected each time.
Conversely, Polkadot which had dipped drastically below $20, recovered massively and is on the verge to surpass $30 soon. Considering the recovery path, DOT price is expected to rise 2x from here and eventually flip dogecoin’s position. But if the Dogecoin price swells up, then the path to flip would be a little hard for polkadot.
Collectively, the Polkadot price should gear up and regain the positions above $30 in order to head strongly towards its ATH at $49. On the other hand, DOGE price appears to have an interim impact with Elon musk’s mentions. Therefore, an extended DOT price may eventually flip Dogecoin in coming days.
Moreover, the parachain which are scheduled for a launch may give a major boost for the DOT price which may propell the price to new highs.