August is often a month of significant price decline for Dogecoin, and with the new month having started, expectations for this meme coin to follow this established trend are high. If this continues, then the downtrend that affected Dogecoin at the end of July could only be the beginning, and this meme coin may see a sharp decline from here.

August could turn red for Dogecoin

Looking at the price movements 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, with 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 years where August closed in the red, we see a fairly high loss rate. For example, in the last three years, Dogecoin's price closed at an average of -10%. August 2020 just escaped the bullish market, and eventually dropped 9.98%, signaling the end of the bullish phase.

The following year, August 2023, saw even worse setbacks, with Dogecoin's price dropping 17.9% before the month ended. Then, in August 2024, another drop of 16.9% shook this meme coin, leading to three consecutive years of closing in the red so far.

The trend after Halving could save DOGE's price

Amid the pessimistic sentiment of August, there has been a distinction that has existed for many years, which is the performance of this altcoin after a halving year. August, following each Bitcoin halving year, has so far been incredibly vibrant, with growth over 20% in the month.

This happened in 2017 after 2016, when Dogecoin's price rose 20% in August. However, in 2021, after 2020, Dogecoin's price continued to rise 34.2%, indicating that this year may follow a similar direction, as 2024 is also a Bitcoin halving year.

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% for Dogecoin, marking a significant deviation from the trend.

Therefore, there is a possibility that Dogecoin will not follow the trend after halving. However, the sentiment in the cryptocurrency market remains very optimistic at this level and could push prices higher. If Ethereum continues to rise and triggers an altcoin season, then Dogecoin will surely lead the trend in meme coin price increases, becoming the leading currency in this field.