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The Coincodex machine learning algorithm predicts, despite a recent gain, Dogecoin (DOGE) may finish the month on a bearish note. Datanomic Trading Pte Ltd believes that after reaching a peak in mid-May, DOGE will continue to decline until the end of the month. The algorithm estimates the price to be $0.220052 by May 28 and $0.217269 by May 29. Another decrease is expected, with Tether potentially dropping to as low as $0.213578 by the end of May.
After Dogecoin grew around 30% in May, analysts began to think it could reach new heights. Shortly after mid-May, the coin crossed the $0.20 mark, mainly due to booming movements in the broader cryptocurrency world, particularly the increase in Bitcoin. Yet, the prediction is that some of Dogecoin’s gains might be given back before the end of the month.
Dogecoin's June performance is generally lower than in other periods. Over the past eight years, each June has seen meme-based cryptocurrencies end the month in the red. Just two of the stock’s June closes have been up, and those included significant double-digit increases.
Fans of Dogecoin are watching it closely in the final days of the month. The results from machine learning suggest that May 2025 could be the month when Dogecoin achieves its most significant monthly success that year. Earlier this year, prices went up by 4% in January and by 3% in April.
Some crypto experts have offered their own contrary opinions. Trader Tardigrade stated that, based on the Relative Strength Index (RSI), Dogecoin is likely to experience a price increase. DOGE could reach $0.90, according to his analysis, if it breaks out of the current price range. There are signs in his chart that the bullish trend may be nearing its end.
Nasdaq Analyst Ali Martinez marked $0.24 to $0.26 as a strong resistance level for the stock. A rise higher than that point could lead to a sharp price increase and might result in the price hitting $0.46. However, Dogecoin needs to clear this resistance before any confirmed upward movement can occur.
Also Read: Will Dogecoin Reach $0.7 Again? Derivatives Volume May Hold the Key
