While the price of Dogecoin (Doge) has dropped over the past month, historical data indicates that it could begin to rally to new all-time highs around seven months after Bitcoin's halving.
Dogecoin price increased in November?
Dogecoin price is down nearly 8% on the daily chart and more than 18% over the past month, but remains in line with the price action of the previous cycle, suggesting that it may be on track towards a new all-time high.
During the previous cryptocurrency bull market, Dogecoin began increasing in price in May 2020, or seven months after the 2020 Bitcoin halving, according to TradingView .
Dogecoin price rose to an All-Time-High of $0.73 on May 8, 2021, one year after the 2020 Bitcoin (BTC) halving. Dogecoin is now down 73% from its previous All-Time-High there.
If this pattern repeats, Dogecoin price will reach a new all-time high in April 2025. However, technical analysis is difficult to apply to memecoins because their value is speculative.
According to Robby Greenfield, founder of Umoja Labs, Memecoin is a “manic market” driven entirely by greed and little understanding of high risk.
However, Greenfield expects some memecoins to maintain high valuations. He told:
Some of these Token , like Doge and PEPE will continue to be legalized as exchanges like Coinbase introduce memecoin futures markets. With large, cult-like communities behind these assets, it is likely that they will remain a higher- Capital cryptocurrency than most other projects with good utility.
Does Memecoin provide fairer market access?
Many cryptocurrencies have launched with high fully diluted valuations (FDVs) and significant allocations to venture capitalists (VCs) in 2024, leading some analysts to claim that “VCs are greedy.” money” is bad for cryptocurrencies in the long run.
Therefore, retail investors may consider memecoin with no VC allocation as the fairest market opportunity, according to Gianluca Sacco, managing director at VALR.
According to TradingView, other memecoins such as PEPE (PEPE), Shiba Inu (SHIB), Dogwifhat (WIF), and FLOKI (FLOKI) have seen double-digit gains over the past week.
However, this only indicates a temporary uptick in interest in some memecoins, not a resurgence of the memecoin “altcoin season,” according to Diane Dai, CMO of DODO. Dai said:
Although prices increased by double digits, volume remained low, indicating insufficient market liquidation . The significant price movement of memecoin is not enough to justify the wave of investment in the memecoin market after the halving event.
Memecoin's daily volume has dropped more than 17% in the past 24 hours to $6.58 billion. According to CoinMarketCap data, memecoin's market Capital fell 5.8% to $52.8 billion.
