Skip to content Skip to sidebar Skip to footer


For crypto investors, it sometimes comes down to choosing between digital assets like Dogecoin, Cardano, and the over 20,000 other coins to invest in. It ultimately comes down to the performance of each cryptocurrency and the gains they can rack up. for investors.

Dogecoin and Cardano: what to invest in?

To possibly predict the performance of these two cryptocurrencies in the next bull market, it can be useful to look at their previous performance. Now, in the latest bull market spanning 2020-2021, there were impressive rallies from both assets, but Dogecoin had seen more returns.

In 2020, the price of Dogecoin had reached $0.0011, but when billionaire Elon Musk started shilling the coin meme, it rose to $0.78 at one point. Doing the math, this means that the price of DOGE has increased by around 70,000%. To put that into perspective, if $1,000 of DOGE had been bought at its 2020 low, it would have been worth $700,000 at its peak.

Dogecoin Price Chart from TradingView.com

DOGE rises over 70,000% in 2020-2021 | Source: DOGEUSD on TradingView.com

Moving on to Cardano, its native cryptocurrency, ADA, also performed incredibly well in the 2021 bull market. It was propelled by the anticipation surrounding Alonzo’s upgrade which saw the debut of smart contracts on the blockchain.

ADA traded as low as $0.018 at one point in 2020, but at the end of its rally hit a new all-time high above $3.10 in August 2021. This would translate into returns by around 17,000% when calculated from its lowest and highest points. during this one-year period. If $1,000 of ADA were bought at its low point in 2020, it would be worth $170,000 at its ATH in 2021.

Cardano (ADA) Price Chart from TradingView.com

ADA rises over 17,000% in 2020-2021 | Source: ADAUSD on TradingView.com

Considering this, DOGE’s performance and returns were much better than ADA’s during the last bull market.

But what about usefulness?

Despite Dogecoin’s impressive performance during the last bull market, it still pales in comparison to Cardano when it comes to utility. The latter’s smart contract capability that allows users to participate in the decentralized finance (DeFi) industry makes it one of the most useful cryptocurrencies in the market.

In this regard, Cardano wins because its utilities establish it as a digital asset with a much higher chance of success in the long run. It also makes it a good investment for those looking to invest in technology rather than just trying to make a quick buck.

In conclusion, DOGE’s performance is entirely driven by the hype, which means it’s more of a gamble to invest in the meme coin. On the contrary, ADA works best for investors who plan to stay in the market for the long term, as well as being part of future advances in blockchain technology.

Follow Best Owie on Twitter for market news, updates and the occasional funny tweet… Featured image from Analytics Insight, chart from TradingView.com





Source link

Leave a comment