Dogecoin Set to Enter Historically Weak Month of June
As May ends, Dogecoin is poised to conclude its second consecutive month in the green, contrary to market expectations. However, June historically marks a downturn for Dogecoin, with only two positive closes in over 11 years.
Reasons for Potential Decline in June
- June has been unfavorable for Dogecoin, closing in the red since 2017.
- Losses recorded from 2017 to 2024 include:
- -2.38% in 2017
- -27.2% in 2018
- -4.36% in 2019
- -9.94% in 2020
- -23.9% in 2021
- -23.3% in 2022
- -7.18% in 2023
- -21.9% in 2024
- The average return for June is -7.34%, making it Dogecoin's worst month.
Future Expectations
- Machine learning algorithms predict initial declines, with a potential drop below $0.22.
- By the end of June, forecasts suggest a recovery, possibly reaching above $0.26, marking a 17.67% increase.
- Further estimates indicate prices could rise to $0.28, exceeding a 20% gain.
