Dogecoin's Next Run Uncertain Amid Price Perception

Dogecoin (CRYPTO: DOGE) may be due for another major rally, but traders are divided over how long investors will have to wait.

Pseudonymous trader Altcoin Sherpa questioned whether Dogecoin will see another 'gigantic bid' in an X post on August 12. He pointed out that its position as the largest meme coin by market capitalization is both a strength and a potential limitation.

Sherpa noted that DOGE's size and deep liquidity make it easier for traders to enter and exit large positions, but also tend to translate into lower volatility compared with smaller meme coins. This appears to be part of the problem for speculative traders, according to Sherpa, who believes Dogecoin hasn't attracted much interest because it is perceived as 'too expensive.'

However, trader Chad offered a more bullish interpretation of Dogecoin's prolonged underperformance. He argued that DOGE 'hasn't had a bull market at all' during the current crypto cycle and remains stuck in an accumulation phase.