Dogecoin (DOGE) is expected to rise 91% in January: Price history reveals potential

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Dogecoin (DOGE), one of the most popular meme cryptocurrencies, may see a surprising 91% increase in January. According to data from CryptoRank, analyzing price trends over the past decade, DOGE has an average return of up to 91.5% in January. This trend has many cryptocurrency investors filled with anticipation.

Historical returns reveal potential, but volatility remains

Although DOGE was created in 2013, its most profitable month occurred in 2021 when DOGE's price skyrocketed by 711.5%. However, Dogecoin's performance has fluctuated since then. In 2023, it rose by 37.2% but also experienced two pullbacks. From a broader perspective, in the past 11 Januarys, only 5 closed in the green, while DOGE has a relatively high probability of declining in January. The median return for Dogecoin is -7.95%, indicating market uncertainty.

Ethereum may be the booster for DOGE's rebound

To support DOGE's potential rise in January, many analysts point out that the performance of Ethereum (ETH) and other mainstream altcoins will play a crucial role. Historical data shows that from January to May, the average return and median return for ETH are typically positive, with the lowest median return at 12.1%. This suggests that Ethereum may enter a strong altcoin season.

If Ethereum eventually shows strong momentum and kicks off the long-awaited altcoin season, Dogecoin is likely to follow suit with a similar upward trend. In this case, DOGE's upside potential would not be limited to January but could extend into the following months.

While DOGE's performance in January remains uncertain, historical data shows that it often exhibits strong gains during this month. If other altcoins like Ethereum perform well, DOGE is likely to have an opportunity for a rise. However, it remains unclear whether DOGE can break past historical limitations, and investors should stay alert and closely monitor market changes.

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