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As May is approaching its quick end, it seems like Dogecoin price is about to end its second month In one row in green. This has become a welcome surprise in a month as expectations were that the market will continue to decline. However, this means that Dogecoin is about to enter what was historically the worst month since its inception, with more red closure than green.
Why can the price of Dogecoin decrease in June
It is known that the month of June is very bad for the price of Dogecoin, and this was the case for most of the past 11 years. In more than a decade, only the DogCoin price closed the month of June twice, and this was again when it was still a somewhat new cryptocurrency.
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like Data From the offers of Cryptorank, the only years of June End in green for Dogecoin It was 2015 and 2016. Before that, June 2014 was closed in red, at a loss of 21.4 %, and after 2016, Dogecoin suffered losses for the month of June every year.
From 2017 to 2024, Dogecoin ended the month of June in red each time without failure. June 2017 ended with -2.38 %, June 2018 ends with 27.2 %, June 2019 ends with -4.36 %, and June 2020 ends with -9.94 %, June 2021 ends by -23.9 %, and June 2022 ends with -23.3 %, and ends in June 2023 in -7.18 %, and ends 2024 June in -21.9 %.
Looking at the pattern here, it appears that even During the upcoming yearsJune did not fail to end the losses of Dogoin. Then from this fixed direction, it is not expected that the price of Dogecoin will actually decrease in the new month. With an average return -7.34 % over the years, making it the worst month in terms of revenue for the Mimi currency, the decrease in business for the encrypted currency can be.
What do you expect from here
According to the algorithm of automated learning in CoincodexJune may end from the deviation from its fixed style. Initially, a possible decrease appears, expecting the price to decrease to less than $ 0.22. However, with the progress of the month, it is expected to turn.
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the One month prediction puts the price of Dogecoin above $ 0.26It is a 17.67 % increase from the current price. Near the end of the month, the machine learning algorithm puts Mimi currency up to $ 0.28, an increase of more than 20 %.
Distinctive image from Dall.e, Chart from TradingView.com
The post Dogecoin Is About To Enter It’s Worst Month In History – Why June Could Be Bloody first appeared on Investorempires.com.
