Dogecoin's 62% Decline Over the Past Year Leaves It Lagging Behind Major Cryptocurrencies

Dogecoin fell 5% on October 1 while major cryptocurrencies like Bitcoin, Ethereum, and XRP rose. This extends Dogecoin's 62% decline over the past year, with its 22% gain over 90 days trailing behind its competitors. The 90-day gains for Bitcoin, Ethereum, XRP, and Solana were 33%, 53%, 31%, and 43%, respectively.

The disparity between Dogecoin and its major competitors grows even more apparent over longer periods. Dogecoin is down 20% in 2026 and 62% over the past year, with an investor who put $1,000 into DOGE a year ago now only having about $378. Additionally, Dogecoin currently trades about 87% below its all-time high of $0.73, reached in May 2021.

A significant reason for Dogecoin's struggle is its supply dynamics. With approximately 156 billion DOGE currently in circulation and no maximum supply cap, the situation differs significantly from Bitcoin's. Miners on the Dogecoin network earn 10,000 new DOGE for each block they mine, with a new block added roughly every minute. This amounts to about 5 billion new DOGE entering the market annually, worth roughly $500 million at the current price of $0.095.