Dogecoin Is About to Enter the Worst Month in History: Why June Could Be Bloody

As May is about to end, it seems that the price of Dogecoin is set to finish the second consecutive month in the green. This is a pleasant surprise in a month when expectations were that the market would continue to decline. However, this means that Dogecoin is about to enter its worst month in history since its inception, with more red closing sessions than green. Why can the price of Dogecoin drop in June June is known to be a very bad month for Dogecoin prices, and this has happened in most of the past 11 years. For over a decade, Dogecoin's price has only closed the month of June in the green twice, and this was when it was still a relatively new cryptocurrency. According to data from the CryptoRank website, the only years when June ended in the green for Dogecoin were 2015 and 2016. Previously, June 2014 closed in the red, with a loss of 21.4%, and after 2016, Dogecoin has continuously lost in June every year. From 2017 to 2024, Dogecoin ended the month of June in a loss every 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 at -21.9%.

Looking at the model here, it shows that even in bull years, June is still prone to losses for Dogecoin. According to this established trend, it is not far off when the expectation for Dogecoin's price to actually decrease in the new month. With an average profit of -7.34% over the past years, this makes it the worst month in terms of profit for the meme coin, a decline may be underway for the cryptocurrency. What to expect from here According to the machine learning algorithm at CoinCodex, June may deviate from the established pattern. Initially, it shows a possibility of decline, with prices expected to drop below $0.22. However, as the month progresses, prices are expected to reverse.

The one-month prediction takes the Dogecoin price above $0.26, up 17.67% from the current price. At the end of the month, the machine learning algorithm brought the meme coin up to $0.28, an increase of more than 20%.