Is the DOGE-Santa rally imminent? Dogecoin price patterns suggest a bullish December

Dogecoin (DOGE)the popular meme coin, could see a holiday boost if historical patterns match investor expectations. The phenomenon known as the “Santa Claus rally,” a seasonal increase in financial markets and asset prices during the last five trading days of December and the first two days of January, is attracting attention in the cryptocurrency market as the riskiest and potentially most lucrative phenomenon.

Although this pattern is typically associated with stocks, it could also impact DOGE, especially given its unique price performance in December.

Historically, such rallies have occurred 76% of the time and were well above the average market movement. Although cryptocurrency traders have their roots in traditional financial markets, they often look for possible parallels in such patterns.

Dogecoin’s performance in December of the last decade presents a mixed picture, but gives hope for an optimistic mood this year.

DOGE’s December

For example, CryptoRank Data shows instances of dramatic increases, such as a stunning 337.5% increase in December 2017, but also more moderate increases, such as 32.4% in 2020 and 7.87% in 2018. Notably, last year brought a modest growth for Dogecoinwith an increase of 7.01%. However, negative years are also common, with December 2022 marking a sharp decline of 34.7%.

All eyes are on whether Dogecoin can continue its upward trend in December. While a Santa Claus rally isn’t guaranteed, the combination of historical trends and modest gains earlier in the month make DOGE a cryptocurrency to keep an eye on this holiday season.

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One should also keep an eye on the performance of the major meme coin in November DOGE recorded an increase of 161.5%. Its all-time high is still 75% higher, the price is currently $0.42. But if this is truly impossible for Dogecoin, it doesn’t seem so.