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 observe this established pattern. 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 Could Turn Red For Dogecoin
When taking a look at previous performances of the Dogecoin worth over the past 11 years, it’s no shock that buyers have a tendency to maneuver cautiously in the course of the month of August. So far, a complete of seven out of 11 years have closed within the crimson, leaving solely 4 years of inexperienced closes to this point. This efficiency pushed the median returns to -9.98% with a mean of -0.79%, as proven by knowledge on CryptoRank.
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While this common is low, wanting on the years when August has closed within the crimson exhibits a excessive loss fee. For instance, the final three years have seen the Dogecoin worth shut out at a mean of -10%. August 2020 was simply coming off the again of the bull market, and finally 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 a few consecutive years of crimson closes to this point.
Post-Halving Trend Could Save DOGE Price
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 to this point 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 path, since 2024 was a Bitcoin halving 12 months.
However, in each 2017 and 2021, the month of July had closed deep within the crimson earlier than the August rally. But in 2025, the month of July has already seen an over 35% rally within the Dogecoin worth, marking a major deviation from the pattern.
Given this, it’s doable that Dogecoin doesn’t observe the post-halving pattern. However, sentiment within the crypto market continues to be very bullish at this stage and will drive costs increased. 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 area.
Featured picture from Dall.E, chart from TradingView.com
