After several months of extreme volatility, the world's largest meme token by market capitalization has finally bounced back strongly this month, as it prepares to close August on a very bullish note.
Onchain data from CryptoRank shows that Dogecoin is on track to record its best monthly performance of the year after seeing a major price breakout last week.
Dogecoin posts 21.4% gains this August
The data shows that the price breakout witnessed last week has sparked bullish momentum across the Dogecoin ecosystem as the meme token achieved a notable return of 21.4% in August.
While this is coming after several months of prolonged volatility with little to no price gains each month, the massive surge seen this month has seen Dogecoin record the highest monthly gain since July last year.
Following the recent market rally, Dogecoin achieved 30-day gains of about 20.6% and it also surged by 20.7% over the past two weeks, suggesting that the record performance was fueled by its activity during the second half of the month.
Dogecoin still yet to recover 2025 gains
Dogecoin has not completely recovered its losses this year despite the rapid price surge that saw it record its highest monthly gain this month.
The data further shows that Dogecoin is still down about 28% in its year-to-date price performance as its 2025 high sits around $0.1551. Meanwhile, Dogecoin is currently trading around $0.084 despite its recent breakout, where it reached a recent high of about $0.0996.
U.Today Editorial Team
Dan Burgin
