Will the dog currency skyrocketed after Bitcoin’s half of the seven months?

Author: Zoltan Vardai, Cointelegraph; Compilation: Deng Tong, Bitchain Vision

Although the price of dog coins has fallen in the past month, historical data shows that it may start to rebound to a record high in about seven months after Bitcoin halves.

Will the price of dog coins rising in November?

The price of dog coins has fallen by nearly 8% on the daily chart, and has fallen by more than 18% in the past month, but it is consistent with the price trend of the previous cycle, which indicates that it may be towards a new historical high pointGo in.

According to the data of TradingView,During the last cryptocurrency bull market, the dog currency began to rise in May 2020, that is, seven months after Bitcoin fell in half in 2020.

Dog coin/USDT, 1 month chart.Source: tradingView

On May 8, 2021, after half a year after Bitcoin in 2020, the price of dog coins rose to a record high of $ 0.73.Dog coins have fallen by 73%compared with the previous historical high.

If this model is repeated, the price of dog coins will reach a new historical high in April 2025.However, technical analysis is difficult to applied to the model cause, because their value is speculative.

Umoja Labs founder Robby Greenfield said,Memecoin is a “crazy market” driven by greedy, and has little knowledge of high risk.

However, Grimfield expects some coins to maintain high valuations.He pointed out:

“As the coinbase and other exchanges introduce the Memecoin futures market, some of the tokens, such as Doge and PEPE, will continue to be legalized. Considering that there are huge communities behind these assets, they are likely to be a tokens supported by most legal projects.Have a higher market value cryptocurrency.

Memecoin offers more fair market access?

In 2024, the launch of many cryptocurrencies has a high completely diluted valuation (FDV) and a large number of venture capitalists (VC), which prompts some analysts to believe that “risk investment that lacks money”Currency is unfavorable.

Therefore, Valr’s chief operating officer Gianluca Sacco said,Retail investors may regard MEMECOIN without risk investment allocation as the most fair market opportunity.He said:

“These tokens are regarded as the most fair opportunity to participate in the cryptocurrency market, and the communities around them are also very interesting … Many people are anxious about high FDV and low -issue tokens provided in history.Provide large discounts to insiders and venture capitalists, and sacrifice the interests of retail users. “

According to data from TradingView, PEPE, Shiba Inu, Dogwifhat (WIF), Flowi (FLOKI) and other factors have increased double -digit increases in the past week.

PEPE, Shib, WIF, Floki, 7 days.Source: tradingView

However, Dodo’s chief marketing officer Diane Dai said that this only shows that people’s interest in certain factors has temporarily increased, rather than the recovery of the “alternative season” of the coin.DAI pointed out:

“Although the price has risen for two digits, the transaction volume is still very low, indicating that the market is insufficient. The sharp fluctuation of MEMECOIN prices is not enough to prove that investors pour into the Memecoin market after the reduction of the incident.”

Memecoin’s daily transaction volume has decreased by more than 17% in the past 24 hours to $ 6.58 billion.According to CoinMarketCap data, MEMECOIN’s market value dropped by 5.8% to $ 52.8 billion.