TLDR
- Dogecoin price increased by 0.92% to reach $0.1635 in the last 24 hours.
- Dogecoin market cap is $24.83 billion, reflecting an increase of 0.93%.
- 24-hour trading volume fell by 58.55% to $1.04 billion.
- Dogecoin price fluctuated between $0.1609 and $0.164, showing a steady recovery.
- Historical patterns indicate the potential for sharp price increases in future cycles.
Dogecoin, a memecoin known for its fast transactions and low fees, has been in a bearish trend for the past month. But changes have been noticed as the Dogecoin price hints at a new course supported by a cyclical pattern formation.
Dogecoin price gains 0.92% to reach $0.1635 after early setback
Tracking the ongoing market trend at the time of writing, CoinMarketCap data shows that Dogecoin price increased by 0.92% in the last 24 hours to reach $0.1635. Dogecoin market cap is currently $24.83 billion, reflecting a 0.93% increase. 24-hour trading volume fell by 58.55% to $1.04 billion. Dogecoin’s price fluctuated between $0.1609 and $0.164 during this period.
The price initially fell before recovering, with a steady uptrend observed throughout the day. The overall trend indicates a positive outlook as the Dogecoin price steadily rose after the initial decline. The volume-to-market cap ratio stands at 4.2%, reflecting typical trading activity. This price movement indicates increased market interest and stability for Dogecoin. The asset has shown resilience with its recovery and steady growth over 24 hours.
Cyclical patterns point to DOGE price rise
As Dogecoin price hovering at its lows, an observation of the Bitcoinsensus promises a change. The analysis reveals that the Dogecoin price has followed a cyclical pattern over the years, showing clear phases of calm before sharp rises. As DOGE faces its current struggles, this recurring trend offers insights into what may come next.
- Source: X
Historically, the Dogecoin price has remained relatively flat or sideways for extended periods, only to experience dramatic increases during bull market cycles. The price reached significant highs in previous cycles, with the most notable jump a 21,457.13% gain. Despite the current stagnation, the Dogecoin price often follows this pattern of calm before volatility spikes. By observing these cycles, the price can approach a point where it can follow the same upward trajectory as before.
