Dogecoin’s performance in 2024 hasn’t been very exciting. The original meme coin has been slowly losing value and hasn’t shown any signs of a big price jump. However, there is still hope that things could improve for DOGE.
People who say that DOGE is uninteresting are mostly right. It’s been moving down or staying the same for nearly nine and a half years. However, there have been times when it surged, like one time it went up over 30,000% and another time it rose about 6,000% from its lows.
Dogecoin’s Future Movement and Potential Breakthrough
Since the previous all-time high, Dogecoin has been moving sideways, similar to past patterns. Typically, Dogecoin takes eight to nine months to start a significant pump after a Bitcoin halving. Considering the most recent Bitcoin halving was only two months ago, a major breakthrough for DOGE might not happen until December or early February.
Currently, the bullish trend could break lower, and prices might drop to the 8–10 cent range. This kind of trend break happened a few months before Dogecoin gained popularity and saw significant gains in August 2020, with prices declining and retracing by roughly 30%.
Dogecoin’s Potential for a Significant Breakthrough
Dogecoin has been following the wider meme coin market movements for a while, but it’s important to consider past cycles. Based on its historical trend, Dogecoin seems to be gearing up for a significant breakthrough. Despite the current lack of excitement, there is still a good chance that DOGE will reach $1 or even $2.
Monitoring the broader market and meme coin sector is crucial. Dogecoin has consistently risen when memes regain popularity. If this trend continues, we might witness another substantial upward movement for DOGE.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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