Better Crypto Buy: Dogecoin vs. Cardano
Dogecoin (CRYPTO: DOGE) and Cardano (CRYPTO: ADA) are both smaller cryptocurrencies that reached their all-time highs in 2021. Yet over the past four years, Dogecoin and Cardano have declined by approximately 30% and 70%, respectively, while Bitcoin (CRYPTO: BTC) has rallied by more than 80%.
Dogecoin and Cardano both attracted a significant number of buyers during the buying frenzy in smaller altcoins. Still, they lost their luster as rising interest rates drove investors toward more conservative investments. Bitcoin and Ether (CRYPTO: ETH), which had clearer long-term catalysts, also pulled investors away from the smaller and more speculative tokens.
Should contrarian investors buy Dogecoin and Cardano as turnaround plays? Let's review their key differences, challenges, and potential catalysts to make an informed decision.
Source Fool.com
