The month of August has traditionally been very bearish for the Dogecoin worth, and with the brand new month rolling in already, expectations are that the meme coin will comply with this established development. If this holds, then the downtrend that has already plagued Dogecoin on the finish of July might solely be the start, and the meme coin might find yourself falling into double-digit losses from right here.
August May Flip Pink For Dogecoin
When taking a look at previous performances of the Dogecoin worth during the last 11 years, it’s no shock that buyers have a tendency to maneuver cautiously in the course of the month of August. Up to now, a complete of seven out of 11 years have closed within the purple, leaving solely 4 years of inexperienced closes thus far. This efficiency pushed the median returns to -9.98% with a median of -0.79%, as proven by knowledge on CryptoRank.
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Whereas this common is low, trying on the years when August has closed within the purple reveals a excessive loss fee. For instance, the final three years have seen the Dogecoin worth shut out at a median of -10%. August 2020 was simply coming off the again of the bull market, and ultimately fell 9.98%, signaling the tip of the bull run.
The subsequent 12 months, August 2023, noticed even worse headwinds, and the Dogecoin worth crashed 17.9% earlier than the month was over. Then in August 2024, one other 16.9% crash rocked the meme coin, main to 3 consecutive years of purple closes thus far.
Publish-Halving Development May Save DOGE Value
Amid the bearishness of August, there was one deviation that has held over time, and that’s the altcoin’s efficiency following a halving 12 months. The month of August following every Bitcoin halving 12 months thus far has been extremely bullish, returning greater than 20% positive aspects within the month.
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This was the case for 2017 after the 2016 halving 12 months, when the Dogecoin worth rallied 20% within the month of August. Then once more, in 2021, following the 2020 Bitcoin halving 12 months, the Dogecoin worth would go on to rally 34.2%, suggesting that this 12 months might go in the identical course, since 2024 was a Bitcoin halving 12 months.
Nonetheless, in each 2017 and 2021, the month of July had closed deep within the purple earlier than the August rally. However in 2025, the month of July has already seen an over 35% rally within the Dogecoin worth, marking a big deviation from the development.
Given this, it’s attainable that Dogecoin doesn’t comply with the post-halving development. Nonetheless, sentiment within the crypto market continues to be very bullish at this stage and will drive costs greater. If Ethereum does proceed to rally and set off an altcoin season, then Dogecoin will undoubtedly lead the beginning of the meme coin rally because the chief within the house.
Featured picture from Dall.E, chart from TradingView.com