Dogecoin is having a rough start to the year. It’s on track for its worst first quarter in seven years, with a whopping 46% loss. This raises concerns that it might repeat its disastrous 2018 performance.
A Really Bad Quarter
Data shows Dogecoin’s Q1 2025 loss is its first in three years. Compare this to 2023’s almost 10% gain and 2024’s impressive 147% jump! The beginning of the year saw some optimism, but things quickly went south. February alone saw a 38.5% drop, and March isn’t looking much better.
Could History Repeat Itself?
The only time Dogecoin had a worse Q1 was in 2018, with a staggering 68.8% loss. If this year follows a similar pattern, we could see losses continuing into Q2. However, there’s a silver lining: 2018 saw a huge Q3 rebound (138% gain!). A similar surge this year could wipe out the losses. But, mirroring 2018, this Q3 rally might also mark the peak for Dogecoin this year.
Analyst Predictions: Hope Remains?
Several crypto analysts offer some hope. One analyst points out Dogecoin is holding above a key support level, suggesting a potential rally towards $4 or even $7. Others see similarities to September 2024’s price action, hinting at a possible bullish reversal.
Current Status
Currently, Dogecoin is trading around $0.165, down slightly in the last 24 hours. Whether it can bounce back remains to be seen.
