Is Dogecoin Price History Happening from 2017?

Dogecoin (DOGE), the world's leading memecoin, is undergoing a unique trend similar to previous cycles. An analyst believes that the price of Dogecoin could rise to a new high if it follows historical patterns. At the time of writing, the price of DOGE is trading at $0.3131, down 1.14% in the past 24 hours and down 24.16% in the past week. Historical Dogecoin Price Models Are Unfolding In a recent post on X, renowned analyst Ali Martinez compared Dogecoin's recent performance to previous cycles. The analyst pointed out that DOGE began a parabolic price surge in 2017, skyrocketing by 212%. After this surge, memecoin dropped by 40% before skyrocketing 5,000%. Martinez noted that DOGE witnessed a similar price trend in 2021. During that time, DOGE surged 476% before dropping 56%. Finally, memecoin surged an astonishing 12,000%.

Martinez declares that Dogecoin's recent performance is similar to these historical trends. According to the analyst, DOGE rose 440% in 2024 and dropped 46%. The analyst claims that DOGE will experience a price increase if history repeats itself. Despite this correlation, analysts cannot predict the expected percentage increase. However, one commentator suggested that DOGE could increase from 150% to 300,000% in the current cycle. Another commentator predicts that DOGE could increase to $1 within the next seven days. Dogecoin Price and Market Surge: Prospects for December The performance of Dogecoin in December in the past decade shows a mixed picture. However, there is still hope for a price increase psychology this year. CryptoRank data shows significant increases, such as an astonishing 337.5% increase in December 2017. In addition, DOGE has experienced moderate increases, 32.4% in 2020 and 7.87% in 2018. Furthermore, 2023 brings modest growth for Dogecoin, with a 7.01% increase. However, Dogecoin has also experienced negative years, with December 2022 marking a sharp decline of 34.7%. As of now, Dogecoin has decreased by 26.2% this month. Despite the recent downward trend, DOGE could see a price increase during the holidays if historical trends align with market predictions. The 'Santa Claus rally' is increasingly attracting attention in the cryptocurrency field. This seasonal asset price increase occurs in the last five trading days of December and the first two days of January. Although there is no guarantee that the price of Dogecoin will rise like Santa Claus, all attention is focused on whether Dogecoin can continue to rise in December or not. According to Trader Tardigrade, the current Dogecoin chart is similar to the price movement in 2020/2021, indicating the potential for a breakout to $30. Important Speech for the Dogecoin Community Regarding the general trend in the Dogecoin ecosystem, Mishaboar, a prominent voice in this field, has delivered an important speech to the community members. According to his message sent to community members, they have until December 31 to download a backup copy of their private key on dogechain.info. He asked members to email privacy[at]dogechain dot info if they encounter any issues accessing their accounts on the website due to NFA. After restoring privacy keys, Mishaboar said users can import them into wallets like Dogecoin Core. Mishaboar's important speech took place after the Dogechain.info event, a popular online wallet that has been operating for the past 10 years, closed down in July. DYOR! #Write2Win #Write&Earn $DOGE {spot}(DOGEUSDT)