It looks like the charisma of the Dogefather wasn’t enough to keep Dogecoin above Cardano Ada and XRP. Despite the recent bearish market trend, Cardano has held its position and is currently in the top 5 cryptocurrencies.
Doge gave everyone a surprise when it rose to unprecedented highs for a meme coin at $0.7. But the recent Bitcoin crash took the entire market down with it and while Bitcoin, as well as many other coins, saw a good enough recovery, Doge isn’t looking too good.
The popular meme coin is struggling to maintain $0.4 which allowed Cardano and XRP to flip its position.
At the time of this writing, Dogecoin is trading at $0.35 and is holding the 7th position in the Crypto market. Meanwhile, one spot above it is everyone’s once-favorite XRP trading at $1.04.
Last but not least, Cardano Ada is in 5th position trading at $1.59. The way things are going, PolkaDot could be next in line to flip Doge which begs the question:
Should I Hold Doge
If you’re a long-term Doge holder chances are you don’t care about its current position. Many have made a good amount of money on Doge thanks to Elon Musk. However, if you purchased the coin near its ATH, you should know that the chances of it crossing $0.7 again are slim. Still, it’s completely up to you how you want to handle your coins. Holding is still better than selling at a loss unless you need the money immediately.