May is about to end, and the price of Dogecoin is expected to rise for the second consecutive month. But this also means it is about to enter the worst June since its inception; over the past eleven years, the number of times June has ended with a decline far exceeds that of an increase.
According to Cryptorank data, Dogecoin only recorded gains in June in 2015 and 2016, with losses in the remaining years. From 2017 to 2024, June has consistently resulted in declines, with drops ranging from 2.38% to 27.2%. Over the years, the average return rate in June has been as low as -7.34%, making it the month with the worst return rate.
However, the CoinCodex machine learning algorithm predicts that June may break this pattern. Initially, the price may drop below $0.22, but it is expected to reverse, with an anticipated increase of over 17.67% within a month, and by the end of the month, it may even rise over 20% to $0.28.
The reasons for June being unfriendly to Dogecoin are complex.
On a macro level, global economic policy adjustments and tax settlements affect liquidity and investment decisions; on a market level, profit-taking sell-offs and new competing products impact Dogecoin; there are also reports that whale investors will conduct large-scale operations based on information and judgment in June, influencing prices.
The historical data contradicts the algorithm's predictions, making the trend of Dogecoin in June a mystery, and investors need to be prepared. $DOGE $PEPE
