Altcoin Rout Deepens as Dogecoin, XRP and Cardano Sink to Their Lowest Levels of 2024
Some of the largest altcoins are taking a heavier beating than Bitcoin, with Dogecoin, XRP, Cardano and Litecoin all revisiting price zones not seen since early 2024 as the market digests a sharp risk-off move.
Bitcoin, the market’s benchmark asset, slipped below the 84,000 dollar mark on Thursday, extending a multi-day decline and briefly tagging its lowest level in roughly two months. The pullback comes on the heels of a powerful rally in so‑called safe-haven assets: precious metals have surged, and gold has notched a fresh record above 5,600 dollars per ounce, drawing part of the speculative capital away from digital assets.
While Bitcoin is firmly in the red, the pain is noticeably worse across the altcoin complex. Large-cap names that typically mirror or slightly amplify Bitcoin’s moves are now underperforming dramatically, suggesting a phase of aggressive de-risking: traders are dumping higher-beta coins first and foremost.
Dogecoin (DOGE) is among the most prominent casualties. The leading meme coin has fallen around 8% over the past 24 hours and is recently changing hands near 0.115 dollars. That price puts DOGE about 84% below its 2021 peak of 0.73 dollars, underlining how far the token remains from its speculative mania highs even after intermittent rallies. The last time Dogecoin traded at these depressed levels was in October 2024, underscoring that the current decline has effectively erased months of incremental gains.
Ripple-associated XRP is showing a similar pattern of weakness. After struggling for much of the year to sustain any breakout attempts, XRP has slipped back toward its lowest trading range of 2024. The coin’s retreat reflects both the broader market downdraft and ongoing uncertainty around regulatory narratives that continue to shape investor sentiment toward XRP more than toward many other top-tier cryptocurrencies.
Cardano (ADA), another long-standing large-cap altcoin, has also rolled over sharply. The token has now retreated to prices last seen more than a year ago, surrendering the bulk of its rallies from earlier in the cycle. Cardano has historically been viewed as a “development-heavy” ecosystem play with a loyal community of long-term holders, but the latest drawdown shows that even committed investors are not immune to macro-driven liquidations and short-term fear.
Litecoin (LTC), often framed as a more conservative, older-generation altcoin, has not been spared either. Though typically less volatile than meme tokens or smaller-cap DeFi names, Litecoin has posted steeper losses than Bitcoin during this move and has fallen back into a price band reminiscent of its pre-2024 consolidation. That performance underlines a familiar dynamic: in sharp corrections, even relatively established altcoins trade more like high-risk assets than digital silver.
The divergence between Bitcoin and the rest of the market is particularly important for traders and longer-term investors to grasp. Historically, during stress events, Bitcoin often behaves as a relative safe haven within crypto, as its deeper liquidity and institutional participation can soften the blow compared to the thin order books and speculative flows in altcoins. The current move fits that pattern: while Bitcoin’s drop to a two‑month low is painful, many altcoins are revisiting 12‑ to 18‑month lows in a matter of days.
Macro conditions are amplifying that pressure. The surge in gold and other precious metals hints at rising risk aversion and a renewed appetite for traditional hedges. When investors shift capital into assets like gold, it frequently comes at the expense of high-beta plays, including microcap stocks and speculative cryptocurrencies. For altcoins that depend heavily on momentum, leverage, and retail enthusiasm, these macro shifts can trigger an outsized reaction.
Market structure is also playing a role. In recent months, leverage had crept higher across derivatives tied to popular altcoins, as traders bet on a continuation of the uptrend that followed Bitcoin’s earlier strength. When the market turned, those leveraged positions became a liability. Forced liquidations and cascading stop losses pushed prices even lower, creating the impression of panic selling even when underlying spot volumes were not dramatically elevated.
For investors holding coins like DOGE, XRP, ADA, and LTC, this environment can feel particularly unforgiving. Many of these assets trade well below their all‑time highs and have already endured long periods of sideways or downward price action. Each new low relative to 2024 levels raises questions about how much patience market participants still have and whether capital will rotate toward projects perceived as having clearer fundamentals or stronger institutional backing.
Yet there are nuances to the selloff that are easy to miss in the headline numbers. First, Bitcoin’s dominance — its share of total crypto market capitalization — tends to rise during risk-off phases like this. That doesn’t just mean altcoins are weaker now; it also signals that if and when risk appetite returns, capital could eventually cycle back into higher-beta assets as traders hunt for outsized returns. Historically, pronounced altcoin underperformance relative to Bitcoin has sometimes preceded periods of sharp mean reversion.
Second, many of the projects behind these struggling tokens continue to ship updates, form partnerships, and work on scaling or interoperability. Price action in the short term often decouples from on-chain growth, development activity, or user metrics. While that is cold comfort to anyone watching their portfolio bleed, it does help explain why some long-term believers use deep drawdowns to accumulate rather than capitulate, especially if they see fundamental progress that the market is not yet pricing in.
That said, not all altcoins are created equal. Broad-based selloffs tend to expose which projects rely mostly on hype and which have genuine traction. In times like these, market participants often reassess their holdings, trimming exposures to meme and narrative-driven assets in favor of coins tied to robust ecosystems, real-world usage, or strong cash-flowing protocols. The fact that even large, well-known names like Dogecoin, XRP, Cardano, and Litecoin are under intense pressure shows how ruthless this repricing phase has become.
For those trying to navigate the downturn, risk management now matters more than fine-tuning entries and exits. Diversification within crypto, position sizing that can withstand volatility, and a clear time horizon are all crucial. Some traders focus on Bitcoin only during such phases, treating it as the “quality” play in an otherwise risk-heavy asset class. Others stay on the sidelines entirely until volatility and funding rates normalize and the market establishes a clearer bottom.
Altcoin holders should also be realistic about recovery timelines. A coin that is 84% below its all-time high, like DOGE, must rise many multiples just to reclaim that peak. In previous cycles, some assets never returned to their former highs even after broader market recoveries, as capital shifted to newer narratives and technologies. Evaluating whether a token is likely to reclaim market attention in the next bullish phase is as important as believing in the technology itself.
Finally, the current environment highlights the importance of separating narrative from price. Big headlines about record gold prices, macro jitters, or political developments can sharpen volatility, but the long-term trajectory of any cryptoasset will hinge on adoption, security, and utility. The fact that major altcoins are now trading at their lowest levels since 2024 is a stark reminder of how quickly market sentiment can turn — and how essential it is for participants to balance conviction with caution as the cycle evolves.