Dogecoin May Price Prediction

Dogecoin May Price Prediction

hey everybody Chris here in this video
going to be giving my price prediction
for Dogecoin for the month of May please
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and we have had a continuation of a
larger correction that continues to test
our resolve on the price of Dogecoin
following of course Bitcoin eth and
other cryptocurrencies just about
everything in the red which I’ll show
you but what does that mean for the
month ahead well let’s take a look at
the news and the charts and I’ll show
you what I’m looking at so we’ll start
here looking at the current Dogecoin
chart and here is Doge right around 125
cents and what does this green circle
means it had my next limit order hit
that’s right I had it at
1249 based on a tweet from a couple days
ago someone had that I referenced I’ll
show you that so I did set another limit
order sell and yes buying more Dogecoin
so bought the dip twice I’ll keep buying
Dogecoin but it keeps dipping and when
we see more dips we’re going to take a
look at that as well but overall this is
what we have with Doge another pullback
and look at Bitcoin Bitcoin came down
below 57,000 came all the way to
566 so could that be the bottom of this
correction we’ll be looking at that as
well so for do going for look it’s the
whole crypto Market is down just about
we we’ve got optimism starting to come
back Adam is up and a few others but for
the most part everything else still over
the past 24 hours is in the red this is
this is what we looked at a couple days
ago a few days ago we looked at Kevin
and unfortunately Dogecoin could not get
the bounceback week we were looking for
and in fact it’s now closing its lowest
weekly candle in almost two months a
retest of 12 half to 13 cents seems
likely now this was April 28th and I
showed you guys this this is what Kevin
was looking at and he said
look it wasn’t his most popular tweet
because everyone was saying oh it’s not
going to drop that low well guess what
it did and he was right so uh that’s
where we are right now and and it was
and it did play itself out on the charts
here where Dogecoin did come down to
that level let’s look at the 4our chart
and we’re like that is this purple line
that I had as well that came all the way
back here from uh 19th of March was that
12 1 12 cent line and also that dip all
the way back from 5th of March so we had
shown this on the chart we said this was
a possibility after 14 cents was
breached and so that’s why I had another
limit order set right here looking at
that next dip down and it did hit that
price well what does that mean well that
means we had liquidations and the
liquidations were big across crypto big
ones in Bitcoin ethereum and even Doge
that’s right $14 million in liquidations
and on the hourly this is what we had
one hour alone over three million on the
long side liquidated this morning and
then that followed up with another
$800,000 so as the price is going down
the Traders are like hitting like
leverage long leverage long leverage
long it’s not going to drop lower and
then it does drop lower so that’s what
we have happening so yeah Kevin wasn’t
so popular but he was right on overall
when we’re looking at Bitcoin this is
what Rob says look we had seven months
this is on the monthly chart seven large
green monthly candles for Bitcoin so
April did pull back that looks a bit
bearish Eng engulfing there on the on
the monthly chart and so may so far is
already down but look this
is I’ve showed this before in previous
bull cycles there have been pullbacks
from 10 20 30 and up to even 40%
pullbacks have happened in the past this
pullback it was on April 25th this was
19% now it’s down to about 22 23% on
this pullback it’s not unreasonable to
see this and in fact on this run we’ve
already seen 23%
so the overall uh trend has not changed
this is a pullback and I know it’s scary
right it’s like you’re seeing your
portfolio go down this is crypto though
this is how crypto works you got to have
you got to have the diamond handsy you
got to be able to hold through this I
know some of you are just like I’m just
selling getting out well then you could
miss out on future gains and again uh as
we talked about last week right we
talked about chop right remember
remember that live stream where it was
all about the chop well this is what we
have happening with
Bitcoin mags is looking at chop going
forward and that chop could actually
last through the summer and I said that
yesterday in my video if you guys were
watching that through the summer and
then we see the big breakout in most
likely in the fall and yes that
is not I’m not the only one saying that
but we could see some gains coming back
up higher on the monthly how has Bitcoin
performed well if we go in the four-year
Cycles 2020 Bitcoin was up
95% go to
2016
18% so Bitcoin has performed well in the
past now 2021 was a big decline in
Bitcoin because of like Tesla like
stopping using Bitcoin for for car
purchases we had the Chinese like
halting mining all happened in 2021 2022
we had the Luna crash which went me and
then was followed up in June with with
Celsius and Voyager and all those so
that was a bad couple but that was the
bare market now we’re coming into early
Bowl what is that going to mean for the
month of May going forward so that’s
what we’re going to be looking at uh as
far as Doge now Dogecoin price
prediction May 2024 the cryptocurrency
Market is undergoing another correction
as we say goodbye to April what’s
happening the latest plunge could be due
to slow inflows into spot Bitcoin
ETFs due to investor fears fueled by
Rising geopolitical tensions High
inflation fading expectations of an
interest rate cut so all of that so the
macro economic news is not great as
we’ve been saying right now and so
it’s being taken out of the
cryptocurrency market that’s where the
that’s where the pain is so uh so this
article was written a couple days ago
and they were saying you know when Doge
was at
144 they were expecting that to continue
to trade until the first week of May and
then probably falling down to about 12.5
Cents by the end of May well we have now
seen that so I am expecting a bounce
back from that going forward here
so uh so may 2024 price prediction look
out for these price targets what do we
have for
Doge Doge’s price has been known to
register a positive return in the fifth
month over the past few years May 2021
was of course epic for Doge in the first
part of May and then not so good in the
second half we all remember that but in
2017
2019 uh were very good 2022 of course
pulled back along with Bitcoin with the
Tera Luna crash so last year doa’s price
held firm over the course of May the
market was just recovering so what do we
see coming forward here look we had the
Bitcoin having just a few weeks ago I
told you guys we were going to see a
lull in the market after the Bitcoin
having that’s when you should be buying
crypto of which I am now uh you as I
said said that’s when we would be seeing
dips in the market and we are
experiencing that now now the last
Bitcoin having Dogecoin did not initiate
a significant move until February 2021 I
pulled that back uh actually to December
because it was really the end of
December 2020 when we saw that first
move and tick up of volume in uh in Doge
and then it was the end of January when
it began its big run so let’s call it
six months after the four-year event if
Doge does that again then a significant
rally might not happen next month
meaning now may instead Doge might wait
until November which I pull back to
October before it starts producing the
kind of Staggering moves that it did in
2021 history alone cannot determine the
price action though that’s why we look
on chain we look at the volume in 20121
when that Doge rally began the volume
ticked up over $6 billion of volume
right now right now we’re under a
billion in volume so the interest in
Dogecoin is not anywhere near where it
was back then we also have a lot more
interest in other meme coins meme tokens
that we didn’t have back then so that’s
going to play a part in uh in interest
in Doge but I say once Doge starts
running that interest is going to come
back and it’s going to come back fast
because it’s going to be everywhere but
we have to wait until then well we’re
not going to see a big 3x or 4X 5x of
volume most likely in May so it’s going
to be mild gains and sideways movement
to be realistic Doge might not be able
to produce that kind of performance
during the previous bull cycle there
weren’t as many meme coins sharing
liquidity with Doge as there are now as
such the price of Doge might climb
Targets in a highly bullish scenario
might stay between 18 and
22 so uh so that’s what we could go to
the daily chart we look and see where
Dogecoin is we again we had this big run
up from late February where Doge was
still down at 8 cents and we were buying
Doge then big run up some might might
see that as a shoulder this is a big
head and we could see a shoulder all the
way back down somebody mentioned that
we’ll be see 8 cent Doge again I don’t
see that I see us bouncing off of this
support here and then moving up forward
and then we are going to chop so this is
what I think that we’ll be seeing in
terms of the uh price of Doge coming
forward that we would that we would be
seeing a sort of a choppiness back up to
14 Cent range and then by the middle of
the month maybe coming up 16 chop back
down and then maybe by the end of the
month we’ll be right around 17 cents
again that’s probably what this is going
to look like will we see a dip that
comes back down to below 12 cents and
test like $1.99 we could see that as
well if you’re going to have another
limit order set that would be it and I
will be setting a limit order for
$1.99 as well just in case that happens
to pick up some more cheap Dogecoin so
let me know in the comments below what
do you guys think about May price
prediction for Doge and are you holding
on are you scared of the correction
that’s happening where do you stand
there give the video a like if you
haven’t already please subscribe to my
channel I appreciate the support we’ll
see you next time
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How will Dogecoin trade in the month of May. Watch this video to see my prediction for Doge prices for the future.

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