//Dogecoin Faces Its Most Bearish Q1 in Seven Years: Is a 2018 Repeat on the Horizon?//
Dogecoin (DOGE), the original meme cryptocurrency, is on track to complete its most bearish first quarter in seven years. With losses nearing 46%, the token’s price decline has sparked discussions about whether history is repeating itself, drawing parallels to the catastrophic Q1 of 2018 when DOGE lost nearly 69% of its value.
Dogecoin’s Bearish Start to 2025
According to data from CryptoRank, Dogecoin’s Q1 performance in 2025 has been significantly underwhelming. This is the first time in three years that DOGE has posted a quarterly loss.
In contrast, the meme coin experienced gains of 10% in Q1 2023 and an astonishing 147% in Q1 2024. At the start of the year, many market participants had high hopes for Dogecoin, expecting it to ride the momentum of previous bull runs. However, these expectations have fallen short.
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January 2025: DOGE showed a modest 4% gain, keeping optimism alive.
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February 2025: The sentiment shifted drastically as the price plunged by 38.5%.
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March 2025: A further 17.5% loss solidified the bearish outlook for the quarter.
The sharp drop has left investors and analysts wondering if DOGE is following a similar trajectory to 2018 when it suffered its worst-ever Q1 decline, setting the stage for continued struggles in Q2.
Could DOGE Follow the 2018 Trend?
In 2018, Dogecoin’s price action was eerily similar to its current movement:
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Q1 2018: DOGE dropped 68.8%—a record loss at the time.
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Q2 2018: The downtrend persisted, with an additional 11.5% loss.
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Q3 2018: Dogecoin rebounded, surging 138% and marking a temporary bull run peak.
If history repeats itself, DOGE could continue its downward trend into Q2 2025 before experiencing a possible recovery in Q3. However, whether this potential Q3 rally will be as strong as in 2018 remains to be seen.
Technical Analysis: Signs of Reversal?
Despite the bearish sentiment, some technical analysts see potential for a bullish reversal. Crypto analyst Ali Martinez highlighted on X (formerly Twitter) that Dogecoin is still holding above the lower boundary of an ascending channel. According to Martinez, if demand spikes at the current level, DOGE could rally toward its mid or upper range.
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Mid-range target: $4
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Upper-range target: Above $7
Similarly, another crypto analyst, Trader Tardigrade, noted that DOGE might have found its bottom after the recent market crash. He compared the current price movement to fractals from September 2024, hinting at a potential bullish reversal. Meanwhile, analyst Mater Kenobi echoed this sentiment, predicting that DOGE could break out once again, as it did in September 2024.
Current Market Sentiment and Future Outlook
As of now, Dogecoin is trading at approximately $0.165, down over 3% in the last 24 hours, according to CoinMarketCap. The token remains a favorite among retail investors, but its performance has been underwhelming compared to expectations for a meme coin in a bull run year.
Factors that could influence DOGE’s price in the coming months include:
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Overall Market Trends: If Bitcoin and Ethereum recover, meme coins like DOGE could follow suit.
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Social Media and Hype: Dogecoin has historically thrived on community-driven momentum.
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Elon Musk’s Influence: As a vocal supporter, Musk’s tweets have previously triggered DOGE rallies.
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Whale Activity: Large holders could either stabilize or further disrupt DOGE’s price action.
Dogecoin’s significant Q1 losses have raised concerns about a potential 2018-style prolonged bearish phase. However, if historical patterns hold, Q3 could bring a notable recovery. For now, investors should exercise caution, monitor technical indicators, and stay informed on broader market trends. Whether DOGE can defy expectations and reclaim its former highs remains one of the most pressing questions in the crypto space.