Historical Data Predicts Dogecoin Price Will Drop Sharply in August — But There Is Still a Ray of Hope

August is usually a strong bearish month for Dogecoin, and with the new month starting, expectations are that this meme coin will follow the established downtrend. If this continues, then the downtrend that affected Dogecoin at the end of July could only be the beginning, and this meme coin may drop significantly from here. August could turn red for Dogecoin When looking at the price movement of Dogecoin over the past 11 years, it is no surprise that investors tend to be cautious in August. So far, a total of 7 out of 11 years have closed in the red, leaving only four years closing in the green. This trend has pushed the median return down to -9.98%, with an average of -0.79%, according to data from CryptoRank. Although this average is quite low, looking at the closing months of August in red, we see a fairly high rate of losses. For example, in the last three years, the price of Dogecoin closed at an average of -10%. August 2020 had just escaped the bull market and ultimately fell by 9.98%, signaling the end of the price surge. Next year, in August 2023, there were even worse obstacles, and the price of Dogecoin fell by 17.9% before the month ended. Then, in August 2024, another bearish drop of 16.9% shook this meme coin, leading to three consecutive years of closing in the red so far. The trend after Halving may save the price of DOGE Amid the pessimistic sentiment of August, there is a notable difference that has existed for many years, which is the performance of this altcoin after a year of halving. August, after each year of Bitcoin halving, has so far been extremely lively, with a growth of over 20% in the month. This happened in 2017 after 2016, when the price of Dogecoin increased by 20% in August. However, in 2021, after 2020, the price of Dogecoin continued to rise by 34.2%, suggesting that this year could follow a similar trend, as 2024 is also the year of the Bitcoin halving. However, in both 2017 and 2021, July closed in the red before rising in August. But by 2025, July saw a price increase of over 35% of Dogecoin, marking a significant deviation from the bearish trend. Therefore, there is a possibility that Dogecoin will not follow the trend after the halving. However, the sentiment in the cryptocurrency market remains very optimistic at this level and may push the price higher. If Ethereum continues to rise and triggers an altcoin season, then Dogecoin will definitely lead the bullish trend in meme coins, becoming the leading coin in this field.