Major and probably the most popular meme cryptocurrency Dogecoin (DOGE) is on the verge of a stunning 91% rally in the coming month of January. As it was revealed thanks to data from CryptoRank, the average return for DOGE in January is 91.5% with over 10 years of data.

Interestingly, despite the fact that Dogecoin was created in 2013, its most profitable January was in 2021, when the price of the meme coin skyrocketed by 711.5%. After that, however, it was not so fruitful for DOGE, with declines in two of them, and a 37.2% increase in 2023.

Broader picture however shows that only five out of eleven January’s closed in green, and statistically as it stands right now there’s a higher probability for DOGE to fall in January. The median of Dogecoin’s returns also suggests this, as it is -7.95%.

So, it’s really two different roads for DOGE in January as of right now.

Ethereum to rescue

In support of a potential rally for DOGE in January, the price history of Ethereum and other major alternative cryptocurrencies signals the likelihood of an upcoming alt season.

According to the data, Ethereum has experienced five consecutive months of positive average and median returns — spanning from January to May. Furthermore, the lowest median return during this period for ETH remains at 12.1%.

If Ethereum finally demonstrates its strength and kickstarts the long-awaited altseason, it’s clear that DOGE will likely follow suit. In this scenario, projections for Dogecoin’s price growth wouldn’t be limited to January alone. However, let’s first see how the first month unfolds.