Dogecoin Price Prediction for May – Will Dogecoin hit $1?

Memes appear to be poised for yet another significant upswing following the previous month’s market cooling off. Will the industry pioneer, Dogecoin, stay in the lead?

We forecast where Dogecoin‘s price may go this month using technical analysis and professional judgement.

This month’s 38% decrease in Dogecoin’s price indicates that selling pressure has significantly outpaced demand.

Trade on BTCC with 10 FREE USDT.

Sign up today to redeem your bonus.

Dogecoin Price Prediction: May Will See New Local Highs for Dogecoin

At its present price of $0.13, though, DOGE may have finally bottomed out, paving the way for a return to its longer-term upward trend.

The present price of Dogecoin is an excellent turnaround chance since it is testing the support it had in March. The fact that the relative strength index (RSI) is in the oversold area, suggesting that sellers are tired, just makes the situation worse.

At the same time, Dogecoin’s funding rate—the premium traders pay to long or short an asset—has become negative, according to statistics from Coinglass.

This indicates that the market has been dominated by bears, who will now have to compensate the bulls in order to maintain liquidity.

Bulls may be able to seize control now that bears are disincentived from trading.

Optimism about Dogecoin’s future trajectory is evident among prominent traders. Ali Martinez, for example, compared the price movement to that of early cycles preceding spectacular rallies.

“The classic pattern of Dogecoin is appearing again! Now that it has broken out of a descending triangle, DOGE is consolidating.

We may witness DOGE soar beyond $1 in the next weeks, according to historical tendencies, he added.

In the meanwhile, TradingView expert ArmanShabanTrading predicts that the price will soon rise to $0.229 before continuing on to its previous cycle’s all-time highs.

The expert made the following statement: “Dogecoin is trading with more than 10% growth in the $0.16 range. We can expect the price to push higher” if support is maintained around the $0.124 level.

The goal prices are $0.229, $0.35, $0.374, and $0.75, in that order, he said. This cryptocurrency has a long-term yield of around 300%.

All of these things point to a bright future for the meme coin that is currently dominating the market. Despite this, many investors avoid it in favour of less expensive beta-exposed alternatives due to its eleven-figure market valuation.

Dogeverse, a multichain meme coin that is presently under presale, is one potential alternative to Dogecoin.

Dogecoin Alternative: Dogeverse Raises $12M in Presale and is Tipped to 100X

Enter the world of Dogeverse, the first cryptocurrency with a multichain concept, and immerse yourself in captivating memetic creativity.

He will embark on a grand chain-hopping journey that starts on Ethereum, Base, BSC, Avalanche, Polygon, and eventually Solana.

This story will definitely resonate with traders, but don’t let the attention-grabbing title fool you.

Some of the real and unique advantages of the multichain strategy include creating a community that isn’t tied to any one blockchain and making it easy for users to switch between them.

Along with the presale, the Dogeverse team introduced a staking mechanism to try and achieve long-term growth.

So, those who invested in the presale can secure their tokens for future passive benefits, which will help them earn back more of their initial investment.

They can earn an 87% APY right now, but that will go down when more tokens are staked.

Industry watchers are extremely optimistic about the new presale, which is adding to the enthusiasm. Consider this: the experts over at 99Bitcoins’ YouTube channel have recently called it a “100x potential meme coin” and said it would be the “best crypto to buy now.”

An incredible $12.5 million has been raised during the Dogeverse presale. As the campaign progresses, the price will grow from its present level of $0.000304, thus interested parties should act quickly.

Related articles