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With a brief closure of the month of May, it looks like Dogecoin Price will soon end his second month in a green row. It was a welcome surprise during the month in which the expectations were that the market would still fall. However, this means that Dogecoin intends to enter what was historically the worst month from the very beginning, with more red closures than green.
Why the price of Dogecoin may fall in June
The month of June is known as very bad at the price of Dogecoin, and so it was for most of the last 11 years. For over a decade, the Dogecoin price ended only in June twice in June, and it was when it was a fairly recent cryptocurrency.
How data On the cryptors’ website, the only years that the month of June is ended in green for dogs It was 2015 and 2016. Earlier in June 2014, it closed in red, with a loss of 21.4%, and after 2016 Dogecoin collected losses in June each year.
In the years 2017–2024 Dogecoin ended June in red every time. June 2017 ended in -2.38%, June 2018. It ended in 27.2%, June 2019. It ended in -4.36, June 2020. It ended at -9.94%, June 2021. It ended in -23.9%, June 2022. It ended in -23.3%, June 2023, June 2023
Looking at the model here, it even shows In stubborn yearsThe month of June did not end with losses for Dogecoin. Following this established trend, it is not far to expect that the price of Dogecoin will actually fall in the recent month. With an average return of -7.34% over the years, which makes it the worst month in terms of reimbursement of a meme coin, there may be a decrease in cryptocurrency.
What can you expect from here
According to the machine learning algorithm in CoincodexThe month of June may differ from the established pattern. At the beginning he shows a possible decrease, expecting the price to drop below 0.22 USD. However, as the month is passed, it is expected to turn around.
. The monthly forecast sets the Dogecoin price above 0.26 USDThat is, an boost of 17.67% compared to the current price. At the end of the month, the machine learning algorithm puts a meme coin up to 0.28 USD, which is an boost of over 20%.
A distinguished picture from Dall.e, chart from tradingview.com
