Polygon Down Another 6%, Gets Flipped By Dogecoin In Market Cap

Welcome to the wild world of cryptocurrency, where anything can happen – including Dogecoin taking over as the fourth-biggest crypto by market cap. That’s right, Dogecoin has just brushed off the mighty Polygon for that coveted spot, relegating it to 5th place – and the gap is widening fast.

Polygon’s Troubles

Polygon (formerly known as Matic Network) was one of the main beneficiaries of the 2020 crypto boom and quickly rose up the rankings by market cap. And while it’s still clinging to a top 5 spot, it’s showing signs of weakness – it’s taken a dip of 6% in the last 24 hours and is down 50% since its all-time high back in May.

Dogecoin’s Rise to Glory

Meawhile, Dogecoin is completely steamrolling the competition and making its way to becoming one of the biggest cryptos. Sure, that statement may have seemed far-fetched back in January when the meme coin was trading for a measly $0.003 – but it’s now up nearly 3,400% in 2021. That astonishing performance has helped Dogecoin not only supplant Polygon in the market cap rankings, but is also on the verge of overtaking Litecoin for third place.

What’s Next?

Could Dogecoin actually continue its rise and take over the number two spot from Ethereum? Stranger things have happened, and the future of the crypto world is notoriously unpredictable. All we can say is watch this space.

In the meantime, here are a few key takeaways:

Dogecoin is on an unbelievable run and has just displaced Polygon as the fourth-biggest crypto by market cap.

Polygon is showing signs of weakness and has taken a 6% dip in the last 24 hours.

Dogecoin is now eyeing up Litecoin’s Number 3 spot – and who knows, maybe even Ethereum’s Number 2.

So don’t say we didn’t warn you when something crazy happens in the world of crypto – because it undoubtedly will!