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Dogecoin (DOGE) traders are turning their attention to November as historical data hints at a potential rally. Popular crypto chartist YazanXBT recently pointed out that November has consistently been one of Dogecoin’s strongest months, often aligning with broader altcoin market surges. According to the analyst, major Dogecoin rallies in 2015, 2017, 2020, and 2024 preceded extended altcoin uptrends, suggesting a cyclical pattern may repeat this year.
Supporting this claim, TradingView analyst ChandlerCharts highlighted recurring November breakouts in Dogecoin’s price chart, emphasizing the coin’s tendency to act as a psychological catalyst for altseason rallies. Historically, Dogecoin’s performance has often signaled renewed retail enthusiasm and capital inflows into smaller altcoins, reinforcing its reputation as a market sentiment indicator.
Currently, Dogecoin trades near $0.183, down 2.2% in the last 24 hours and nearly 7% over the past week. Despite short-term weakness, on-chain data shows heavy whale accumulation, implying that large holders may be positioning for a rebound. If this pattern persists, traders could anticipate fresh momentum across memecoins and community-driven tokens.
However, not all data supports immediate optimism. On-chain analytics firm Arkham revealed that Murad’s memecoin portfolio has dropped 59% from its $67 million peak to $27.5 million, as speculative appetite for tokens like POPCAT, MOG, and RETARDIO wanes. The broader memecoin market capitalization, which exceeded $70 billion mid-year, has declined since September.
Meanwhile, BlockchainCenter’s Altcoin Season Index currently sits at 41, well below the 84 recorded earlier, indicating Bitcoin dominance and suggesting it is not yet altseason. Analysts caution that unless Bitcoin’s momentum slows, altcoins like Dogecoin may remain subdued. Still, if history repeats, November could once again mark the beginning of Dogecoin’s rally and a potential altcoin revival.
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