According to CMC data, the king of meme coins, Dogecoin (DOGE), has surged over 21% in the past week, outperforming other large market cap dog-themed meme coins and PEPE, only slightly behind the recently launched PENGU.

January has always been the best-performing month for DOGE.

Notably, according to CryptoRank data, January has always been the best-performing month for DOGE, with an average increase of 85% over the past 11 years, far exceeding any other month.

  • In January 2021, DOGE skyrocketed by 711%.

  • In January 2016, it rose by 84.6%.

  • In January 2014, it rose by 269%.

However, historically speaking, the probability of a decline in January over the past three years is 66%. Although DOGE has already risen over 20% this January, Dongqu reminds investors that historical data may not reflect the future; please be aware of the risks before investing.

What potential positive factors exist for Dogecoin this year?

What potential catalysts might still exist this year? The Dongqu team helps you quickly summarize.

DOGE Department

Trump announced the establishment of a new government agency named the Department of Government Efficiency (DOGE), which will officially launch after he takes office, appointing Elon Musk, known as the Dogecoin Godfather, and Vivek Ramaswamy to lead the agency. Although the name is similar, it cannot be ruled out that there will be a pump effect.

Dogecoin ETF

The ETF Store President Nate Geraci tweeted at the end of last year expressing confusion about why there are still no ETF issuers applying for a Dogecoin ETF.

Shockingly, ETF issuers have yet to apply for a Dogecoin ETF… What are the downsides? The worst-case scenario is that this is a marketing expense.

Curious to know which company will end up with the 'DOGE' stock ticker.

The world's first Dogecoin-related ETP fund has been listed in Sweden. The issuer, Valor, is optimistic about the upcoming U.S. election results further catalyzing market demand for Dogecoin investment, thus providing Nordic investors with an opportunity to invest in Dogecoin.
X Money

Musk's X platform recently exposed the code for its payment feature 'X Money', which indicates that the system may be launched in 39 states upon obtaining a license. Entrepreneur Alex Finn predicts that X payments will support cryptocurrencies in some form. If realized, Dogecoin, which Musk has long supported, may be one of the options.