The top memecoins are far from previous highs, yet retail investors may view them as fairer opportunities than VC-backed coins with high fully diluted valuations.
While Dogecoin (DOGE) price fell during the past month, historical data indicates that it could start its rally to new all-time highs around seven months after the Bitcoin halving.
Dogecoin price is down nearly 8% on the daily chart and over 18% over the past month, but remains in line with the previous cycle’s price action, suggesting that it could be on track toward new all-time highs.
During the previous crypto bull market, Dogecoin started rallying in May 2020, or seven months after the 2020 Bitcoin halving, according to TradingView.