Dogecoin's Struggle to Keep Pace with Major Cryptocurrencies Continues

Despite the recent surge in major cryptocurrencies like Bitcoin, Ethereum, XRP, and Solana, Dogecoin has been falling behind, down 4.7% to $0.095. In contrast, Bitcoin rose 1.3%, Ethereum gained 0.7%, XRP climbed 0.6%, and Solana edged up 0.3%. This divergence in performance raises questions about the structural issues plaguing Dogecoin, which has seen its weekly change turn negative, down 1.6%.

Other smaller, more speculative coins like Zcash and NEAR Protocol also declined on October 1, suggesting traders are pulling out of these assets as Bitcoin gains traction. The thin demand for Dogecoin, which often has fewer dedicated buyers at lower price levels, can lead to sharper price drops when traders become cautious.

The disparity in performance between Dogecoin and the major cryptocurrencies is evident over longer periods. Over the 90 days leading up to October 1, Dogecoin gained 22%, but this lags behind Ethereum's 53%, Solana's 43%, Bitcoin's 33%, and XRP's 31%. Dogecoin is down 20% in 2026 and 62% over the past year, meaning an investor who put $1,000 into DOGE a year ago would now only have about $378.

Dogecoin's supply dynamics are a significant reason for its struggle. With no maximum supply cap, approximately 156 billion DOGE are currently in circulation, and miners earn 10,000 new DOGE for each block they mine, adding about 5 billion new DOGE to the market annually. This new supply, worth around $500 million at the current price, must be absorbed by the market for Dogecoin's price to rise.