Can DOGE trigger a rebound like in 2021?
Perhaps thanks to its association with Elon Musk and his upcoming role in the Donald Trump administration, Dogecoin's price has soared in the wake of the U.S. presidential election.
Its price surged over 200% from the bottom, reaching $0.485 on December 8.
However, after such a significant increase, DOGE experienced a pullback, still holding above the $0.4 mark.
But last week, the situation changed dramatically; the market crashed entirely, causing its price to plummet. In just a few days, DOGE's price dropped nearly 40%, falling to $0.26.
While such a large-scale adjustment sounds alarming, it is not uncommon in the cryptocurrency market, especially in the highly volatile meme coin sector.
There have been similar drastic fluctuations in the past, and in fact, this may even suggest a brighter future for DOGE.
Recent crashes can be compared to the situations in the bull market cycles of 2017 and 2021, during which the largest meme coins surged by triple digits, pulled back by 40-60%, and then skyrocketed into the thousands or even tens of thousands as their respective trends came to an end.
