Memecoins

Will Dogecoin Skyrocket 7 Months After Bitcoin Halving? — TradingView News

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While Dogecoin DOGEUSD The price has been falling over the past month, with historical data indicating that it could begin its rally to new all-time highs around seven months after the Bitcoin halving.

Dogecoin price rise in November?

Dogecoin price is down almost 8% on the daily chart and more than 18% over the past month, but remains in line with price action from the previous cycle, suggesting it could be on the right path to new all-time highs.

During the previous crypto bull market, Dogecoin began to recover in May 2020, seven months after Bitcoin’s halving in 2020, according to TradingView.Cointelegraph

Dogecoin price reached its all-time high of $0.73 on May 8, 2021, a year after Bitcoin 2020. BTCUSD reduce by half. Dogecoin is currently down 73% from its previous all-time high.

If this trend were to repeat, Dogecoin price would reach a new all-time high in April 2025. However, technical analysis is difficult to apply to memecoins because their value is speculative.

Memecoins are a “mania market” driven purely by greed, with little understanding of the high risks, according to Robby Greenfield, founder of Umoja Labs.

However, Greenfield expects some memecoins to maintain a high valuation. He told Cointelegraph:

“Some of these tokens, like DOGE and PEPE, will continue to legitimize themselves as exchanges like Coinbase introduce memecoin futures markets. Given the large sectarian communities behind these assets, it is likely that they will remain higher-cap cryptos than even most legitimate project-backed tokens.

Do Memecoins Provide Fairer Access to the Market?

Many cryptocurrencies launched with a high fully diluted valuation (FDV) and a large venture capital (VC) allocation in 2024, prompting some analysts to argue that “money-hungry VCs” are bad for long-term cryptocurrencies.

Thus, retail investors could consider memecoins without risk capital allocation as the fairest market opportunity, according to Gianluca Sacco, chief operating officer at VALR. He told Cointelegraph:

“These tokens are considered the fairest opportunity to participate in the crypto market right now, while the communities around them are simply a lot of fun to get involved with… Many feel burned by high FDV tokens and low emissions that have historically been proposed. through token projects with significant discounts for insiders and venture capital firms at the expense of individual users.

Other memecoins like Pepe PEPEUSDShiba Inu SHIBUSDDogwifhat (WIF) and Floki (FLOKI) posted double-digit gains over the past week, according to TradingView.Cointelegraph

Still, this suggests only a temporary surge in interest in certain memecoins, and not the resurgence of a memecoin “altseason,” according to Diane Dai, Dodo’s marketing director. Dai told Cointelegraph:

“Despite the double-digit price increases, trading volume remains low, indicating insufficient market liquidity. Significant memecoin price fluctuations are not enough to prove an influx of investors into the memecoin market after the halving.

Daily memecoin trading volume fell more than 17% over the past 24 hours to $6.58 billion. The market capitalization of memecoins fell 5.8% to $52.8 billion, according to data from CoinMarketCap.Cointelegraph

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research before making a decision.

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