DogeCoin Now Ranked 11th! See Who Said Hello to the Top 10?

DogeCoin, which has many investors in the world and even supported by Elon Musk, has lost its place in the Top10 Marketcap.

The struggle to stay in the top 10 for Dogecoin has been getting harder and harder lately. There were those who came in and out of this list, which includes the largest coins by market value, but Dogecoin managed to maintain its position here for the longest time. Until the bear market really made itself felt and DOGE struggled to keep up. Once again, the meme token has dropped from the top 10.

Polkadot Takes Leadership

Over the past few weeks, Dogecoin has managed to reclaim the 10th position it held during the downtrend. However, with its most recent recovery, Polkadot has achieved one of its notable gains, resulting in a significant increase in market value.

The 9% gain in the last 24 hours alone pushed the price of the DOT above $7.7, which brought its market cap to over $8.6 billion. This represents an increase of over $200 million from Dogecoin's market cap, making DOT the 10th largest cryptocurrency by market cap.

Polkadot was one of the cryptocurrencies that caught the eye of investors during the summer when DeFis were notorious. Earnings through staking have made it incredibly popular with investors, and although its price took a hit during the downtrend, the token now appears to be making an impressive comeback.

Is Dogecoin Out of the Game?

Dogecoin (DOGE) still remains one of the most popular cryptocurrencies on the market. The crypto-asset is down more than 80% from its all-time high, but remains holding its position, closely following the top 10. Despite the low prices, transactions on the network remain high.

The data shows that DOGE recorded almost $1 billion in transactions in the last week alone. These whale transactions stand out as transactions with a value of $100,000 or more, indicating the interest of major investors. The number of long-term investors also remains high, with 67% of all holders holding their tokens for over a year at this point.

As for Polkadot, the cryptocurrency has started to record an uptrend in the short term. It registered support above $7.6, an expected price point for the crypto-asset. It is not known how long DOT will hold the 10th place as it had previously surpassed Dogecoin at 10th place, but DOGE soon regained that spot.

Source: coin-turk.com