Dogecoin Price Prediction for September 1, 2024

The OG meme cryptocurrency Dogecoin (DOGE) has been on a tear over the course of the month. DOGE has seen a 20.51% decline over the past 30 days. At press time, the asset was trading at $0.1042, representing a 24-hour decline of almost 3%.

Investors weren't too hopeful about the meme coin either. According to Coinglass data, there were more long positions than shorts, suggesting that investors were more pessimistic than optimistic about DOGE.

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Dogecoin market development and future forecasts

It seems that some investors were happy with this drop. Santiment data showed that whales owning Dogecoin had been adding to their DOGE holdings. According to the data, the largest Dogecoin holders made a significant accumulation after the August 5 crash.

Gathering of whales

The percentage of DOGE held by these large wallets peaked on August 7. Furthermore, this indicates a calculated move to take advantage of the falling prices of the meme coin.

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Can Dogecoin see an uptrend in September 2024?

Dogecoin will abandon its pessimistic sentiment over the course of the coming month. The asset will see a slight increase in the next few days. In fact, the meme coin will end the month of August with a high of $0.108930. However, after a slight correction, the cryptocurrency will trade at around $0.107004 on September 1, 2024.

Considering this small increase, DOGE is still far from its all-time high of $0.7376 reached about three years ago in 2021.

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More specifically, the OG meme cryptocurrency is 85% below that peak. While September seems slightly bullish, Dogecoin still has some way to go before it climbs to the top.