Disclaimer: The opinions expressed by our editors are their own and do not represent those of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.
Dogecoin (DOGE)the popular meme coin, could see a holiday boost if historical trends match investor expectations. The phenomenon known as the “Santa Rally”, a seasonal rise in financial markets and asset prices during the last five trading days of December and the first two days of January, is attracting attention in the market cryptocurrencies as the riskiest and most potentially lucrative. .
Although commonly associated with stocks, this trend could also affect DOGE, especially given its unique price history in December.
Historically, such rebounds have occurred 76% of the time, significantly outperforming the average market movement. Although rooted in traditional financial markets, cryptocurrency traders often look to such models to find potential parallels.
Dogecoin’s December performance over the past decade presents a mixed picture, but gives hope for bullish sentiment this year.
DOGE in December
For example, Crypto Ranking The data shows instances of dramatic gains, such as a staggering 337.5% gain in December 2017, as well as more moderate increases, such as 32.4% in 2020 and 7.87% in 2018. Last year notably brought modest growth to Dogecoinwith an increase of 7.01%. However, negative years are also common, with December 2022 marking a sharp decline of 34.7%.
All eyes are on whether Dogecoin can continue its upward trajectory as December unfolds. While a Santa rally is not guaranteed, the combination of historical trends and modest gains from earlier this month positions DOGE as a cryptocurrency to watch this holiday season.
Related
The major meme coin’s performance in November is also something to keep in mind, as DOGE posted a gain of 161.5%. Its all-time high is still 75% higher, with its price currently remaining at $0.42. But if this is truly something impossible for Dogecoin, that doesn’t seem to be the case.