The Dogecoin price rally was one of the most intriguing climbs in cryptocurrency history. The asset rose nearly 1000% until it hit highs of $ 0.7 and plummeted drastically during the BTC price crash.
However, many other assets, including Bitcoin, rebounded on a larger scale within hours of the crash, but DOGE price appeared to be struggling to get above $ 0.4. As a result, the Cardano price and the XRP price gained enough momentum and jumped up, with Dogecoin lagging behind.
Soon Elon Musk jumped into action trying to raise the falling DOGE price, carrying the price above $ 0.4. Even so, it was a short-lived one again, dropping back below $ 0.4 in no time. And currently tries to exceed these values, but is rejected every time.
Conversely, Polkadot, which fell sharply below $ 20, has rallied massively and is on the verge of exceeding $ 30 soon. Given the recovery path, the DOT price is expected to double from here and eventually flip Dogecoin’s position. But if the Dogecoin price goes up, the path to flipping would be a bit difficult for Polkadot.
$ DOT you’re next in line to turn over $ DOGE
Let’s make it happen
– Benjamin Cowen (@intocryptoverse) May 21, 2021
Overall, the Polkadot price should rise and regain positions above $ 30 to move strongly towards its ATH at $ 49. On the other hand, the DOGE price seems to have a tentative impact on the mentions of Elon Musk. Hence, an extended DOT price could potentially flip Dogecoin in the coming days.
Additionally, the parachute slated for launch can boost the DOT price significantly, which can propel the price to new highs.