Dogecoin (DOGE), the altcoin based on the popular doge meme, has long-served as an early indicator of an altseason, a time in the crypto market cycle where investors have an increased risk-appetite for altcoins.
The DOGE/BTC trading pair has shown significant seasonality, where massive gains (sometimes as much as 700-800%) come in a matter of a few weeks. These surges often bring DOGE from around 10-30 sats to 100-180 sats.
A quick look at the DOGE/BTC chart shows that we are currently sitting at the low-end of this range, around 30 sats. Notably, DOGE is now up around 7.4% on the day and is showing signs of a breakout following a year-long downtrend.
Altcoins have been showing major signs of life over the last few weeks, with many appearing ready to break out after a rough summer. Notably, most major altcoins (and Bitcoin) are trading higher than a week ago against the dollar.
U.S. investors can trade Dogecoin commission-free and earn some free BTC by signing up for the Voyager app using this link (use code: SLUDGE25).
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.