May Could Be Good for Dogecoin
Investors felt relieved when the price of Dogecoin recovered in April after three months of a 60% decline. On average, the meme coin has risen over 6% this month, but it cannot surpass $0.2. As April comes to an end, investors are eagerly anticipating May. The historical statistics for Dogecoin in May are below.
Dogecoin has performed well in May on average. DOGE returns averaged 23% this month, according to CryptoRank. Despite being low, the median is positive at 2.51%. Based on these statistics, Dogecoin may continue to recover.
Dogecoin rose 19.1% in May 2024. This contrasts with three years of negative DOGE prices. In the previous 11 years, May has ended favorably six times and negatively five times. This narrow difference predicts a struggle between bears and bulls this month.
The year so far shows an intriguing pattern when comparing 2025 to 2024. After four months in 2025, the charts indicate a completely opposite performance. First, January concluded negatively in 2024 and positively in 2025.
February and March 2025 were spectacular for Dogecoin, with increases of 50% and 87.5%, respectively. Continuing the pattern of opposite performance, February and March 2025 ended in the red with -38.5% and -17.5%, respectively.
This pattern continues in April, when Dogecoin closed the month with a drop of 39.5% in 2024, but rose 6.9% this month. If this inverse performance continues, Dogecoin could have an extremely negative May, given that May 2024 ended at 19.1% positive.
With hopes for rising prices, the community remains optimistic. Recently, billionaire Elon Musk posted a badge calling himself “The Dogefather” for the Government Efficiency Department.
