We will be looking at some of the past prices and market opinions of the DOGE crypto in order to develop a Dogecoin price prediction for June 2020.
Dogecoin (DOGE) is one of the oldest cryptos, appearing on the market in 2013. The coin was inspired by the then-popular Doge meme.
Dogecoin has a current trading price of $0.002522, with an increase of 0.45% in the last 24 hours. The crypto is ranked at 30th place according to a market cap of $314,374,390, with a circulating supply of 124,668,132,787 DOGE.
$221,939,917 worth of DOGE coins were traded in the last 24-hour period, which is more than the $173,098,815 of last month.
Dogecoin Price Prediction: Analysis
Dogecoin ended the month of April with a price of $0,002443. The coin went through a successful and long-term price recovery, increasing by 75% since it crashed in mid-March, which brought the Dogecoin to a low of $0.0015 overnight.
By looking at the coin’s multi-month chart evolution, we can notice a positive response from the market bulls.
In the first week of May, Dogecoin continued its bullish momentum to rise to a new resistance level of $0,002678. On May 10th, Dogecoin corrected itself to $0,002459. Another bullish run started for the coin in the next week, rising from $0.0024 to $0.0026 on May 14th. That day, Dogecoin succeeded in having a positive increase of 4.50%.
Dogecoin failed to keep its gains, falling back to $0.0025 and consolidated at that level.
Compared to other coins on the market, Doge fared pretty well in the past few weeks, recording an increase of 12 percent at $0.00247 trading price. DOGE is currently in its resistance, which may trigger a decrease to the $0.0023 support.
However, if the price were to drop, the support at $0.0023 may provide stability.
According to Bollinger Bands, the indicator implied volatility for the coin, while the RSI indicator is in a neutral zone.
The pivot, resistance, and support levels calculated by WalletInvestor are:
- Resistance Level (R3): 0.00264
- Resistance Level (R2): 0.00261
- Resistance Level (R1): 0.00256
- Pivot Point: 0.00252
- Support Level (S1): 0.00247
- Support Level (S2): 0.00244
- Support Level (S3): 0.00239
There have been no recent updates, developments, or news related to the Dogecoin project or crypto in the past month.
Dogecoin Price Prediction: Market Opinion for June 2020
There have been a number of sites that have made their own Dogecoin price prediction for June, and as usual, we decided to include some of them in order to reflect the market sentiment for DOGE.
Tradingbeasts predicted that Dogecoin will reach $0.0032485 when June begins. The site forecasted that the maximum price would be around $0.0040509 and the minimum price of $0.0027546. The closing price for Doge is estimated at $0.0032407 for June, with a change of 27.47%.
Cryptoground‘s Dogecoin price prediction places the coin at a price of $0.0024, at the start of June, with a loss of -4.84%.
Coinpredictor expects DOGE to be trading, at the start of June, at a price of $0.00174, which means a loss of -30.8%.
Digitalcoinprice made a very positive Dogecoin price prediction for June 2020, estimating that the crypto will have a price of $0.00477909, which marks an increase of 88.15%.
Gov.capital forecasted that Dogecoin will start June at a price of $0.00279, with an estimated maximum of $0.0032085 and a minimum of $0.0023715. The site predicted that, on the last day of June, DOGE will have an average trading price of $0.00286, a maximum of $0.003289, and a minimum of $0.002431. The site also provided price predictions for all days in June.
Altcoinforecast predicted that Doge would be trading at $0.002218, at the start of June, and the site also forecasted that the coin will close the month at $0.001832.
Bitverzo forecasted that on June the 1st, Dogecoin would have an average price of $0.000092, with a minimum of $-0.002764 and a maximum value of $0.003242. The last day of the month is projected to have an average of $-0.000266, with a possible minimum of $-0.003264 and a possible maximum of $ 0.002965. The website also provided a Dogecoin price prediction for all days of the month of June, as well as their respective minimum and maximum prices.
Cryptorating expects that Dogecoin will reach a price of $0.003520, which would mean an increase of 38.42%.
Dogecoin Price Prediction: Verdict
This has been our Dogecoin price prediction for June 2020. The market opinions are very divided at this point, with many forecasting that DOGE will have minor losses and with others supporting that the coin will bounce back.
Featured image: cryptonomist.ch
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