How was the summer season in Ripple (XRP), Dogecoin (DOGE), Avalanche (AVAX) and Solana (SOL), Which coin performed the best, How are they doing this year?
The summer season, which crypto traders don’t usually like, has arrived. The fact that most of the summer months are boring and lacking in the financial market is also reflected in the crypto industry. This has a direct impact on investors’ crypto trading. What effects has the “summer season” almost always called “down” for altcoins had in the past? What price movements have taken place in popular coins? We have compiled this situation by considering the well-established coins of the market, Ripple (XRP), Dogecoin (DOGE), Avalanche (AVAX) and Solana (SOL).
Ripple (XRP) Loses Strength Every Year
XRP, which started the summer months with a decrease, went from $ 1.70 to $ 0.50 in 2021 and lost 70.11 percent of its value. Due to the fact that there were much fewer cryptocurrencies at that time, this decline of XRP posed a great danger to other altcoins. When we consider the year 2021, Ripple (XRP) was seen by many investors as the best crypto money after Bitcoin (BTC) and Ethereum (ETH). But such a collapse in XRP set the crypto industry back for a while.
From the beginning of July 2021 to mid-August, there was a bull season in XRP. XRP, which rose from $ 0.51 to $ 1.36, had an increase of 166.74 percent. The fact that it gained such a value by challenging Bitcoin (BTC) also increased the confidence in altcoins and added new investors to the market. In short, XRP, which started the 2021 summer season with a decline and continued with an increase, became one of the coins that marked the year.
When we came to the summer season of 2022, we watched a completely different XRP from 2021. Moving more stable than in previous years, XRP fell to $ 0.29 and declined by 31.97 percent. However, factors such as the rapid upward acceleration of the market and the fact that XRP was on the market agenda quickly brought XRP to $ 0.43. This price range corresponds to an increase of 30.78 percent. So XRP’s 2022 summer season started and ended poorly.
Looking at today, the last corner of the SEC-XRP tension has been reached. The most prominent major coin in the first quarter of 2023 was XRP. XRP, which was traded at $ 0.30 in the early part of the new year, showed a performance of almost 100 percent. Starting the summer season from 0.41 to 0.50, XRP took a step with an increase of 20 percent.
Avalanche (AVAX) Doesn’t Take Kindly To The Summer Season
The summer season of 2021 was almost a nightmare for Avalanche (AVAX). The popular coin, which slackened from $ 38 to $ 8, experienced a 77 percent decline. The continuation of this depreciation throughout the season brought fear in the Avalanche ecosystem. Moving downwards during May-June-July-August, AVAX exploded in September and brought its ecosystem back to the fore.
By 2022, AVAX, which opened the season negative again, came from $ 36 to $ 13. Its 62 percent pullback also shook other coins in the Avalanche ecosystem. Bottom prices were tested not only on the basis of AVAX, but also on many other coins. Afterwards, AVAX, which managed to reach $ 30, gained 110 percent.
Although it did not start with the sharp declines in previous years, AVAX, which opened the summer season of 2023 negatively, is currently in a 16 percent decline. The arrival of AVAX from $ 16.60 to $ 13.80 indicates that the activity has decreased compared to other years. AVAX, which did not take kindly to this summer season, raised questions about how it would perform.
Dogecoin (DOGE) Rises Failed
DOGE, which peaked at $ 0.74 in 2021, was withdrawn to $ 0.16. Although this retracement corresponded to a rate of 78 percent, it had to increase 370 percent to return to its previous price from where it fell. DOGE, which had a very large volume of the market at that time, impressed millions of investors. Although it gained 120 percent in a short time, it left a negative memory for that period of the market.
Looking back to 2022, there was no trace of DOGE’s old volume and popularity. DOGE fell from 0.123 to 0.048, depreciating by 61.33 percent. Even though it made an attack at the beginning of August and gained 67 percent in value, it was going downhill with each passing season. In short, the summer season of 2022 has never been good for DOGE.
Although DOGE occupied the top positions with the influence of Elon Musk and Twitter from time to time in 2023, it was added to the coins that opened the summer season with a decline. Coming from 0.871 to $ 0.715, memecoin has created a very stable structure compared to 2021 and 2022. The main reason for this event was Pepe (PEPE), who recently ignited the memecoin trend.
Summer Season Asks Him: Solana (LEFT)
SOL, which entered June of 2021 like a bomb, exceeded $ 200 and increased by 967 percent. SOL, who spent the entire season gaining in value, overtook almost all the coins in the market. Starring with its success in both the project and NFT platforms, SOL took the title of one of the most popular coins of the summer season.
The major coin, which decreased by 59.22 percent between May and June 2022, recovered within a few weeks and reached $ 47.90. Although it did not fully reach the level it came to, it has survived more compared to other coins. Although the problems that erupted from the Solana ecosystem sometimes drove the price down, its investor somehow managed to push the price up.
Like other coins, SOL, which did not start the summer season well this year, is currently traded at $ 21.30. The popular coin, which showed a maximum decrease of 17.66 percent between May and June, has a better price structure than XRP, AVAX and DOGE when evaluated according to the total data of the last three years.
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