Dogecoin has re-emerged as one of the best performers of the year when it comes to the top 10 cryptocurrencies. The extremely popular meme coin in 2021 continues to outperform its larger counterparts such as Bitcoin and Ethereum.
Dogecoin is doing well
In a year where there have been many implosions that have damaged the crypto market further, dogecoin has emerged as a force to be reckoned with. It has continued to be valued ahead of some of the biggest cryptocurrencies in the space.
Of course, most cryptocurrencies have lost a significant share but where dogecoin has only lost 58% of its value in 2022, others such as bitcoin and ethereum have recorded year-on-year losses of 65% and 67% respectively. This has put the meme coin ahead of the two biggest cryptocurrencies in the market.
It also surpasses the likes of Cardano and Polygon, both of which are the ninth and tenth cryptocurrencies in the market. Cardano’s value is down more than 80% while Polygon has recorded a decline of around 69% this year.
DOGE holding above $0.07 | Source: DOGEUSD on TradingView.com
The meme coin is only beaten by Binance Coin (BNB) and XRP. Where BNB is down 53%, XRP is down 57%. This makes BNB the best performer of the top 10, XRP the second best performer, and dogecoin a close third.
More Metrics For Top 10 Cryptos
Dogecoin has also done a good job on the rise from the low cycle. After touching $0.05 in June, it has managed to rise over 42% since then to $0.07 as of this writing. However, it is still not the most complete in this regard. The title goes to XRP.
XRP’s cycle of less than $0.11 and the current price of $0.35 means that the digital asset is up almost 207% in the last 10 months. Another asset that made a triple-digit recovery from a cycle low is Polygon which is up 142% from its June cycle low of $0.32.
Others in the top 10 have not performed as well. Bitcoin is down around 6% from a cycle low of $17,664, and Cardano is seeing a 38% loss from a cycle low of $0.4. Meanwhile, Ethereum and BNB saw better headwinds with increases of 33.65% and 32.41% respectively.
However, this makes dogecoin the third best performer using this metric. Impressive run for the meme coin mainly driven by hype.
Options images from Coinbase, charts from TradingView.com