August Historically Bearish for Dogecoin, But Post-Halving Gains Possible
The historical performance of Dogecoin in August shows a bearish trend, with 7 out of the last 11 years closing in the red. Key statistics include:
- Median returns: -9.98%
- Average returns: -0.79%
- Last three years average loss: -10%
- August 2023 decline: -17.9%
- August 2024 decline: -16.9%
However, post-halving trends indicate potential bullish behavior. Following previous Bitcoin halving years, Dogecoin saw significant gains:
- 2017: +20%
- 2021: +34.2%
This year, July showed a rally over 35%, differing from past patterns. Current market sentiment remains bullish, which may support Dogecoin's price movement if altcoins gain momentum.
