Cardano, Dogecoin and XRP have yet to break all-time highs, but when?
Time to take a closer look at some altcoins that did very well during previous bull runs. Cardano, Dogecoin and XRP have all had good moments and have made a lot of people rich. But there are also investors who bought these coins years ago and forgot to sell them.
The Cardano quotes, Dogecoin and XRP have since plummeted and a recovery to all-time highs seems far away. What should they do? bag holders Well?
Cardano is down 86%
Cardano (ADA) is trading today at 0.424626 euros, a small decline of 0.03% in the past 24 hours. The total market value of Cardano is approximately 15.15 billion. Cardano’s record high dates back to September 2, 2021, when the price was 2.85 euros. So currently, Cardano is down 86% from its peak.
Cardano experienced a period of strong increases and increasing attention in 2021. The combination of important technological updates, combined with effective marketing, brought an influx of new investors and users to Cardano. This in turn led to strong price increases and, above all, hype in 2021.
Dogecoin must have come from far away
Dogecoin is the only one of the three with a bit of profit in the last 24 hours. The price rose by 1.56% to 0.149776 euros. The total market value of Dogecoin is approximately 21.64 billion euros. Dogecoin’s record high was reached on May 8, 2021, when 1 DOGE was worth 0.679418 euros. That is 79% higher than the current price.
Elon Musk, the CEO of Tesla and SpaceX, played a significant role in Dogecoin’s spectacular price increase in 2021.
His tweets and public statements about the meme coin attracted massive attention and resulted in an influx of new investors, which drove up demand and therefore the price.
These tweets and actions by Musk generated massive media attention and FOMO (Fear Of Missing Out) among investors, leading to a spike in the Dogecoin price on May 8, 2021, when the coin was worth more than 0.60 euros.
XRP shows nothing
The price of XRP today is 0.483971 euros, an increase of 0.17% compared to yesterday. The total market value of XRP is approximately €26.83 billion. XRP reached its all-time high on January 4, 2018, when it was priced at $3.60. This means the price is now 88% lower than its all-time high.
The court case between the US Securities and Exchange Commission (SEC) and Ripple Labs has had a significant impact on the price of XRP, especially in the 2021 bull run.
The SEC is suing Ripple for selling XRP as an unregistered security. This has led to a lot of uncertainty and fear among investors, resulting in a ‘Fear, Uncertainty, and Doubt’ (FUD) surrounding XRP. While other cryptocurrencies rose in that year’s bull run, XRP lagged behind.
