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With the month of May of a quick closure, the Dogecoin Price is about to finish his second month In a row in the Green. This has been a surprise welcome in a month where expectations were that the market would continue to decrease. However, this means that Dogecoin is about to enter into what has historically been the worst month since its inception, with more red closures than Green.
Why the Dogecoin price could drop in June
It is known that the month of June is very bad for the price of Dogecoin, and this has been the case during most of the last 11 years. In more than a decade, the price of Dogecoin has only closed the month of June in Green twice, and this was when it was still a rather new cryptocurrency.
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As data From Cryptorank website programs, the only years of June ended at the green for Dogecoin They have been 2015 and 2016. Before that, June 2014 had closed in El Red, with a loss of 21.4%, and after 2016, Dogecoin had accumulated losses for the month of June of each year.
From 2017 to 2024, Dogecoin has finished the month of June in red each time without fail. June 2017 ended at -2.38%, June 2018 ended at 27.2%, June 2019 ended at -4.36%, June 2020 ended at -9.94%, June 2021 ended at -23.9%, June 2022 ended at -23.3%, June 2023 ended at -7.18%and June 2024 ended in -21.9%.
Looking at the pattern here, it shows that even During the upward yearsThe month of June has not failed to end in Dogecoin losses. Following this established trend, it is not far from waiting for Dogecoin’s price to really fall in the new month. With an average yield of -7.34% over the years, which makes it the worst month in terms of returns for memes currency, a decrease could be in process for cryptocurrency.
What to expect from here
According to the automatic learning algorithm in CoincodexThe month of June can end up diverting from its established pattern. At first, it shows a possible decrease, waiting for the price to fall below $ 0.22. However, as the month progresses, it is expected to change.
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He The one month’s prediction puts the price of Dogecoin above $ 0.26which is an increase of 17.67% compared to the current price. Towards the end of the month, the automatic learning algorithm places the meme coin up to $ 0.28, which is an increase of more than 20%.
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