The Dogecoin (DOGE) price faces bearish pressure as May draws to a close, despite posting impressive 30% gains earlier this month. A sophisticated machine learning algorithm now suggests the popular meme coin could experience significant downside in the coming days.
AI Algorithm Projects Bearish DOGE Price Action
According to CoinCodex’s advanced machine learning model, DOGE is likely to experience a series of declines through the end of May. The algorithm forecasts the following price targets:
- May 28: $0.220052
- May 29: $0.217269
- May 30: $0.214764
- May 31: $0.213578
This bearish outlook comes after recent technical analysis also warned of a potential 17-cent drop in DOGE price, suggesting mounting downward pressure on the leading meme coin.
Historical Performance and Future Outlook
Despite the bearish short-term forecast, DOGE has demonstrated remarkable strength in May, gaining over 30% and maintaining position above the crucial $0.20 support level. This performance marks DOGE’s strongest monthly showing in 2025, with previous gains limited to 4% in January and 3% in April.
Technical Indicators Signal Mixed Signals
While the AI model leans bearish, technical indicators present a more nuanced picture:
- RSI readings suggest an imminent pump possibility
- Key resistance zone identified between $0.24-$0.26
- Potential for parabolic rally if resistance breaks
June Historical Analysis
Looking ahead to June, historical data presents a cautionary tale. DOGE has recorded negative returns in June for eight consecutive years, with only two positive June performances since its inception. However, both positive instances resulted in double-digit gains, suggesting potential for significant upside if the pattern breaks.
Expert Price Predictions
Notable crypto analysts have weighed in on DOGE’s price trajectory:
- Trader Tardigrade: Projects potential rally to $0.90 based on RSI analysis
- Ali Martinez: Identifies $0.24-$0.26 as crucial resistance zone
- Local high target: $0.46
FAQ
What is causing the bearish DOGE price prediction?
The bearish outlook is primarily based on machine learning analysis of historical price patterns, current market conditions, and technical indicators showing overbought conditions.
Could DOGE break its negative June trend?
While historical data shows predominantly negative June performance, the two positive instances resulted in significant gains, suggesting potential for trend reversal under the right market conditions.
What are the key price levels to watch?
Key support lies at $0.20, while the critical resistance zone is between $0.24-$0.26. Breaking above this resistance could trigger a significant rally.
At time of writing, DOGE trades at $0.22, showing a 2% decline in the last 24 hours according to CoinMarketCap data.
