Is Dogecoin Expensive? Another Run Could 'Still Take a Bit,' Veteran Trader Says

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

Is DOGE’s Next Run Uncertain?

In an X post on Aug. 12, pseudonymous trader Altcoin Sherpa questioned whether Dogecoin will see another “gigantic bid.” He pointed to its position as the largest meme coin by market capitalization which is both a strength and a potential limitation.

Sherpa said 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.

That appears to be part of the problem for speculative traders, according to Sherpa. He believes Dogecoin hasn’t attracted much interest because it is perceived as “too expensive.”

Sherpa argued traders looking to maximize upside during ecosystem-specific rallies have smaller-cap alternatives available.

For an Ethereum-led meme coin rally there is Pepe(CRYPTO: PEPE), while Fartcoin(CRYPTO: FARTCOIN) could attract traders during a Solana-driven rally.

Sherpa still expects DOGE to “eventually have another run,” although he cautioned that it could take time.

The trader said he would not personally buy Dogecoin at current levels. Instead, he prefers to enter once the meme coin begins moving higher and momentum confirms itself.