Although Dogecoin's price dropped last month, historical evidence suggests that it may begin to rise to new all-time highs about seven months after Bitcoin's half-life.
Here's what you should know about Doge Vs. other memecoins:
Is There a Price Surge for Dogecoin in November?
The price of Dogecoin has fallen more than 18% over the last month and over 8% on the daily chart, but it is still within the range of the previous cycle, indicating that it may be headed for new all-time highs.
Dogecoin began to rise in May 2020, or seven months after the 2020 Bitcoin halving, during the last cryptocurrency bull market, according to TradingView.
One year after the 2020 Bitcoin halving, on May 8, 2021, Dogecoin reached an all-time high of $0.73. As of right now, Dogecoin has dropped 73% from its previous peak.
The price of Dogecoin would hit a new all-time high in April 2025 if this tendency continued. Memecoins' speculative value makes it challenging to apply technical analysis to them. Robby Greenfield, the founder of Umoja Labs, claims that memecoins are a "manic market" that is only motivated by greed and that people are unaware of the significant hazards involved.
Memecoins Provide More Equitable Access to Markets?
Since several cryptocurrencies debuted in 2024 with large venture capitalist (VC) allocations and high fully diluted valuations (FDV), some commentators have argued that "money-hungry VCs" are detrimental to cryptocurrencies in the long run.
Gianluca Sacco, VALR's chief operational officer, believes that memecoins devoid of venture capital allocations may provide the most equitable market opportunity for ordinary investors.
In the last day, the daily trading volume of memecoins dropped to $6.58 billion, a decrease of more than 17%. Based on statistics from CoinMarketCap, the market capitalization of memecoins decreased by 5.8% to $52.8 billion.
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