Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The price of probably the most beloved and biggest meme coin, Dogecoin (DOGE), may see 30% growth in the next three months. As it draws from the price history of DOGE, presented by CryptoRank, the average returns for the meme coin in March, April and May stand at +1.65%, +68.2% and +23%, which makes the average of these three 30.89%.
Yes, the median figures are significantly lower, with -4.70%, +3.45% and +2.51% returns, respectively. But DOGE rarely moves in such small margins from month to month, and history saw its 87.5% and 19.1% growth last March and May, or 546.9% in April 2021.
Gamza Khanzadaev
More to the point, if you take a look at the infographics, you may notice how the meme coin tends to show explosive results in spring. All cryptocurrencies have that in common, blooming as the market gets rid of the freezing burden of winter and gets warmer while the weather outside also becomes warmer.
Expect the unexpected
Cycles, patterns, historical echoes - they all play a role. And DOGE, well, it has a history of defying expectations, acting less like a predictable asset and more like a wild card that thrives on sentiment, momentum and, of course, internet culture.
Even now, as the broader market remains in recovery mode, the possibility of DOGE making another unexpected move is something traders, holders and casual observers should keep an eye on.
If the average return in the next three months stabilizes somewhere around 30%, the price of Dogecoin may make it back above $0.30, just 146% pure move away from a new all-time high for what was created as a satire of Bitcoin and is now a $34.14 billion asset.
Yuri MolchanA long way to go? Sure. Impossible? Not quite. After all, DOGE has done crazier things before. And while logic and fundamentals do have their say, sometimes, just sometimes, the market moves on pure belief. A meme that turned into a movement, a joke that became a serious asset - maybe, just maybe, it has got another surprise run in store.
Dan Burgin
Vladislav Sopov