Dogecoin (Doge) price surge? Analysts point out historical patterns

Dogecoin has been under enormous pressure in recent months, but analysts have begun to predict potential price increases.

After reaching a two-year high in November 2024, the meme coin experienced a sharp pullback, dropping more than 50% of its value in less than six months.

Trading volumes also fell sharply, showing a weaker interest among retail investors and institutional investors. In mid-November 2024, Dogecoin's daily trading volume exceeded US$60 billion, but by the end of March 2025, this figure had plummeted to below US$3 billion, a drop of more than 90%, exacerbating investors' concerns. The situation in April also did not improve much, with Dogecoin's average daily trading volume still below $5 billion, indicating that market sentiment remains bearish.

The sharp decline in trading volume is consistent with the current market narrative. As liquidity declines and price volatility increases, it often causes long-term investors to suffer losses. On a Sunday, more than $4 million long positions were liquidated, with more than 80% of which came from long traders, who were forced to close their positions due to bearish pressure.

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