Over the past year, Dogecoin has underperformed significantly compared to major cryptocurrencies like Bitcoin and Ethereum, which have reached new yearly peaks.

This decline has allowed alternative cryptocurrencies to threaten Dogecoin's position within the top 10 by market cap.

As these altcoins gain momentum, Dogecoin's standing becomes increasingly vulnerable, highlighting the competitive nature of the crypto market.

This trend serves as a reminder of the dynamic landscape, where newcomers can overshadow established players like Dogecoin.