Historical data shows DOGE performs best in January, with an average return of 85%

Odaily Planet Daily News Dogecoin (DOGE) has risen 21% in the past week, outperforming major meme coins such as Shiba Inu (SHIB), Pepe (PEPE), and Bonk (BONK). Analysis indicates that this increase is due to renewed interest from whale investors. On January 3, whale investors purchased over 1.08 billion DOGE, worth $413 million. Additionally, blockchain analysis platform Blockchair monitored that on the same day, a transfer of 399.9 million DOGE (worth approximately $144.9 million) was moved from Binance to an unknown wallet. Such transactions are typically considered bullish, indicating that as tokens move to private wallets, selling pressure eases. CryptoRank data shows that January has historically been the best-performing month for DOGE, with an average return of 85%, far exceeding any other month. In January 2021, DOGE surged 711%, while in January 2014, its return was 269%. April is the second-best month for DOGE, with a return of 546% in April 2021 and 84.9% in April 2018. Alex Thorn, the research director at Galaxy Digital, recently predicted that DOGE could rise by 170%, reaching $1 for the first time and pushing its market cap to $100 billion. (Cointelegraph)