DOGE has a bright future in November due to the following reasonsAccording to current on chain indicators, Dog Coin (DOGE) has not lost control of its latest upward trend. Top tier Meme tokens changed hands at $0
DOGE has a bright future in November due to the following reasons
According to current on chain indicators, Dog Coin (DOGE) has not lost control of its latest upward trend. Top tier Meme tokens changed hands at $0.07264, up 2.71% in the past 24 hours. In the week since this month, the dog coin has surged 4.46%. Related
The rise in WTD so far this week may be the beginning of the historical record for dog coins. According to CryptoRank's data, the growth trend of Dogcoin since 2014 has been characterized by a positive return in November, sandwiched between the subsequent two losses.
The final increase in November 2014 was 2.58%, while the decrease in November 2015 was 6.32%, offsetting this trend. In November 2016, DOGE also experienced a bearish downward trend, falling by 2.72%. Bullish sentiment returned in November 2017, when Meme Coin, which had no competition, achieved a growth of over 81%.
This cycle continued again, with losses recorded in November 2018 and 2019, and an increase of 38.7% at the close of November 2020. The following two November months also recorded a downward trend of 23.4% and 14.6%, respectively, which many believe lays the foundation for the upcoming closing of this month. This pattern is very obvious, and in terms of the current price prospects of tokens, optimism is higher.
Unleash the charm of dog coins
By default, Dogcoin has shining support from the industry's biggest supporters, from Elon Musk to Mark Cuban. Although their advocacy power seems to have weakened in the past few months, investors still consider their influence to maintain support for DOE.
This explains the recent record of significant whale transactions and demonstrates the growing practicality of DOGE as a payment token. Since 2020, Dogcoin has welcomed hundreds of new meme coin competitors, but has successfully maintained a market value of $10.25 billion, making it the ninth largest cryptocurrency.
The current market signs also support the bullish momentum of DOGE, and time will tell us whether the token will repeat its history again.
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