Yes / New orthogonal wavelet transforms can be designed by changing the wavelet basis functions or by constructing new low-pass filters (LPF). One family of wavelet may appeal, in use, to a particular application than another. In this study, the wavelet transform based on raisedcosine spectrum is used as an independent orthogonal wavelet to study multicarrier modulation behaviour over multipath channel environment. Then, the raised-cosine wavelet is compared with other well-known orthogonal wavelets that are used, also, to build multicarrier modulation systems. Traditional orthogonal wavelets do not have side-lobes, while the raised-cosine wavelets have lots of side-lobes; these characteristics influence the wavelet behaviour. It will be shown that the raised-cosine wavelet transform, as an orthogonal wavelet, does not support the design of multicarrier application well like the existing well-known orthogonal wavelets.