TLDR
- Dogecoin gains 2.29% in 24 hours after a steady month-long decline of over 25% in value.
- Market cap rises to $27.01B while trading volume drops 53%, showing reduced short-term activity.
- Price fluctuates between $0.170 and $0.178, ending the day with controlled market participation.
- Historical data shows recurring cycles with growth peaks of 5,858%, 21,457%, and projected 4,447%.
- Current cycle trends near $0.197, with analysts monitoring potential movement toward the $7.21 level.
The Dogecoin price has been trending negatively for a month, with a 25.28% decline in its value. Despite the dip in its price, market analysts have hinted at a trend reversal as the meme coin eyes a potential macro cycle that will lead to a new bullish trend.
Dogecoin Current Market Action Revealed
According to the latest CoinMarketCap data, as of the time of press, Dogecoin was trading at $0.1780, representing a 2.29% gain over the past 24 hours. The market capitalization increased to $27.01 billion, up 2.3% from the previous day. The 24-hour trading volume fell sharply by 53.39% to $1.46 billion, indicating reduced short-term trading activity despite the price rise.
During the 24 hours, the price fluctuated between approximately $0.170 and $0.178, showing moderate volatility. The price initially declined during early trading hours, reaching its lowest point near $0.171 before beginning a gradual recovery.
A strong upward momentum emerged later in the day, pushing Dogecoin above $0.176, followed by a final sharp rise to $0.178. The volume-to-market cap ratio stood at 5.4%, suggesting controlled market participation relative to capitalization. Overall, the trading chart depicted a recovery trend after earlier weakness, marking Dogecoin’s steady rebound throughout the observed session.
DOGE Market Cycles Trace Repetitive Growth Patterns Through the Years
Dogecoin’s long-term chart tracks three distinct market cycles between 2014 and 2027, showing clear phases of growth and correction. An observation by Bitcoin Census reveals that the first cycle began near zero and reached $0.0113, marking a 5,858 percent rise before declining sharply.
During the second cycle, starting around 2018, prices moved steadily upward before a sudden climb to $0.7464, gaining 21,457 percent. After the rally, values fell and moved downward through 2022, forming a clear correction phase that lasted several months. The third cycle displays a gradual rise beginning in 2023, where prices remain near $0.197 within an upward channel.
Currently, an uptick is expected as the data also projects a potential peak near $7.21, equating to a 4,447 percent gain. Each observed phase follows a similar rhythm of accumulation, acceleration, and retracement, reflecting a consistent geometric pattern across time. Dogecoin’s chart, therefore, records measurable repetition in its historical and projected price structure.
The post Dogecoin Rebounds 2.29% After a Month-Long Decline: Is a Macro Cycle Reversal Starting? appeared first on Blockonomi.