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dogecoin price prediction

In order to develop a Dogecoin price prediction for May 2020, we will be looking at some of the coin’s past prices and market opinions.

Dogecoin Overview

Dogecoin (DOGE) has been around for 7 years on the market, being known mostly for representing the Shiba Inu meme.

Dogecoin is currently changing hands at $0.002008, with an increase of 0.96% in the last 24 hours. The crypto is ranked at 32nd place according to a market cap of $249,465,994, with a circulating supply of 124,247,322,461 DOGE.

$165,016,675 worth of DOGE coins were traded in the last 24-hour period, which is less than the $173,098,815 of last month. The lowest value over a 30-day period was recorded at $0,001692.

Dogecoin Price Prediction: Analysis

Dogecoin began trading at $0,002233 when March started, and throughout the first week, it managed to climb up to $0,0025 levels by March 7th. But the following day, the coin dropped to $0,002187.

On March 12th, Dogecoin plunged to a new monthly low of $0,001535, following the rest of the market. The following day, DOGE experienced massive intraday fluctuations, going down to $0,001247 and then right back up to $0,001738. The coin then struggled for the next week to settle above the $0.0017 resistance level, until on March 19th, when it reached $0,001773. From then on, DOGE climbed up to $0,001811 till the closing of the month.

Doge debuted in April at a trading price of $0,001812. By the end of the first week, DOGE had risen above the previous resistance level of $0,00190. The following day, Dogecoin broke a new resistance of $0,002044. The coin fluctuated between $0.0019 and $0.0020, but on April 13th, it failed to go back up to $0.0020 and fell to $0,001894.

Dogecoin (DOGE) Price News

source: newtrade99

Dogecoin price was at $0.00199 on April 14, and traded at around the same level for most of the day, closing at $0,001964. The following day was also a pattern of sideways trading. But on April 16, Dogecoin showed a strong recovery movement at 08:35 UTC, when the price once again reached $0.00205, with a surge of 12.11%. For the following days, the coin moved around the same value.

The coin has been trading above $0.0020 since April 18, with a minor dip to $0.00197, but then recovered to $0.00211 by 6.77% rise. The next few days, Doge traded around the $0.0020 level. The coin’s price movement throughout the last week saw a regression of 1.05%.

Dogecoin (DOGE) Price News

According to the movement of the DOGE/USD recorded over the past few weeks, the currency is following a bullish trend, but along with that, the coin also experienced many sharp fluctuations.

Dogecoin (DOGE) Price News

Dogecoin traded at $0.002101 at the start of the day, and over the course of the next 6 hours, the coin fell by 5.19% and reached $0.001992. Then, DOGE managed a recovery of 4.65%, which placed the coin at around $0.002085 by 10:05 UTC. But Doge could not sustain its new gains for long and suffered a drop of 4.98% and touched a new intraday low of $0.001980 by 14:05 UTC.

Dogecoin News

From here, Dogecoin once again shot up between 14:05 & 23:00 UTC, with an increase of 5.25% with the price touching $0.002084. The crypto once again experienced rejection at this level and followed a downward trend.

Capture

The pivot, resistance, and support levels calculated by WalletInvestor are:

  • Resistance Level (R3): 0.00214
  • Resistance Level (R2): 0.00210
  • Resistance Level (R1): 0.002043
  • Pivot Point: 0.0020031
  • Support Level (S1): 0.00194
  • Support Level (S2): 0.00190
  • Support Level (S3): 0.00184

Developments

No major developments or partnerships have been announced for Dogecoin or its project in the past month.

Dogecoin Price Prediction: Market Opinion for May 2020

There have been several sites that have developed their own Dogecoin price prediction for May, and as usual, we featured some of the most relevant forecasting sources to offer a more well-rounded perspective of how the market perceives DOGE’s movement.

Tradingbeasts

Tradingbeasts predicts that Dogecoin will start May at a price of $0.0025344. The site expects that the maximum price would be near $0.0031529 and the minimum price at $0.0021440. The closing price for Doge is projected at $0.0025223 for May, with a change of 29.11%.

Cryptoground

Cryptoground‘s Dogecoin price prediction expects the coin to trade at around $0.0024 in mid-May, which means a change of 20.28%.

Coinpredictor

Coinpredictor expects DOGE to be trading in May at $0.0027, which means an increase of 44.7%.

Digitalcoinprice

Digitalcoinprice once again is very positive with its Dogecoin price prediction, as for May 2020 it forecasted that the crypto will have a price of $0.00408035, which means a rise of 106.35%.

Gov.capital

Gov.capital calculated that Dogecoin will start May at a price of $0.00178, with an estimated maximum of $0.002047 and a minimum of $0.001513. The site also estimated that DOGE will close the month with an average trading price of $0.00225, a maximum of $0.0025875, and a minimum of $0.0019125. The website also posted price predictions for the rest of the days in May.

Calendar date Regular Least possible price Best possible price
2020 May
2020 May 01, Friday  0.00178  0.001513  0.002047
2020 May 02, Saturday  0.00191  0.0016235  0.0021965
2020 May 03, Sunday  0.002013  0.00171105  0.00231495
2020 May 04, Monday  0.0020067  0.001705695  0.002307705
2020 May 05, Tuesday  0.00193  0.0016405  0.0022195
2020 May 06, Wednesday  0.00182  0.001547  0.002093
2020 May 07, Thursday  0.002026  0.0017221  0.0023299
2020 May 08, Friday  0.002082  0.0017697  0.0023943
2020 May 09, Saturday  0.00211  0.0017935  0.0024265
2020 May 10, Sunday  0.002082  0.0017697  0.0023943
2020 May 11, Monday  0.00195  0.0016575  0.0022425
2020 May 12, Tuesday  0.00192  0.001632  0.002208
2020 May 13, Wednesday  0.00194  0.001649  0.002231
2020 May 14, Thursday  0.002023  0.00171955  0.00232645
2020 May 15, Friday  0.00213  0.0018105  0.0024495
2020 May 16, Saturday  0.00217  0.0018445  0.0024955
2020 May 17, Sunday  0.002055  0.00174675  0.00236325
2020 May 18, Monday  0.002015  0.00171275  0.00231725
2020 May 19, Tuesday  0.002063  0.00175355  0.00237245
2020 May 20, Wednesday  0.002056  0.0017476  0.0023644
2020 May 21, Thursday  0.00237  0.0020145  0.0027255
2020 May 22, Friday  0.00229  0.0019465  0.0026335
2020 May 23, Saturday  0.00219  0.0018615  0.0025185
2020 May 24, Sunday  0.00213  0.0018105  0.0024495
2020 May 25, Monday  0.00215  0.0018275  0.0024725
2020 May 26, Tuesday  0.00214  0.001819  0.002461
2020 May 27, Wednesday  0.00216  0.001836  0.002484
2020 May 28, Thursday  0.00212  0.001802  0.002438
2020 May 29, Friday  0.002081  0.00176885  0.00239315
2020 May 30, Saturday  0.00223  0.0018955  0.0025645
2020 May 31, Sunday  0.00225  0.0019125  0.0025875

Altcoinforecast

Altcoinforecast expects Doge to trade at around $0.0017 when May starts, and the site also forecasted that the coin will close the month at $0.0018.

Bitverzo

Bitverzo made Dogecoin price prediction for every day of May, featuring their average, and respective minimum and maximum prices.

Date Average Low High
Friday, May 1, 2020 -0.000003 -0.003121 0.003185
Saturday, May 2, 2020 -0.000002 -0.003021 0.003213
Sunday, May 3, 2020 -0.000015 -0.003052 0.002975
Monday, May 4, 2020 -0.000030 -0.003277 0.002930
Tuesday, May 5, 2020 -0.000058 -0.003026 0.002921
Wednesday, May 6, 2020 -0.000073 -0.002876 0.003020
Thursday, May 7, 2020 -0.000064 -0.002984 0.003061
Friday, May 8, 2020 -0.000056 -0.003183 0.002801
Saturday, May 9, 2020 -0.000060 -0.003299 0.003063
Sunday, May 10, 2020 -0.000075 -0.003089 0.002891
Monday, May 11, 2020 -0.000089 -0.003018 0.003119
Tuesday, May 12, 2020 -0.000115 -0.003278 0.003116
Wednesday, May 13, 2020 -0.000125 -0.002982 0.002959
Thursday, May 14, 2020 -0.000110 -0.003108 0.002886
Friday, May 15, 2020 -0.000094 -0.003055 0.003084
Saturday, May 16, 2020 -0.000088 -0.003191 0.003052
Sunday, May 17, 2020 -0.000092 -0.003009 0.003094
Monday, May 18, 2020 -0.000094 -0.003203 0.002902
Tuesday, May 19, 2020 -0.000107 -0.003172 0.002885
Wednesday, May 20, 2020 -0.000104 -0.003142 0.003185
Thursday, May 21, 2020 -0.000076 -0.003224 0.002817
Friday, May 22, 2020 -0.000046 -0.003312 0.003043
Saturday, May 23, 2020 -0.000028 -0.002857 0.003082
Sunday, May 24, 2020 -0.000021 -0.003252 0.002972
Monday, May 25, 2020 -0.000012 -0.003125 0.003035
Tuesday, May 26, 2020 -0.000016 -0.003195 0.003049
Wednesday, May 27, 2020 -0.000006 -0.003256 0.002927
Thursday, May 28, 2020 0.000027 -0.003119 0.002959
Friday, May 29, 2020 0.000061 -0.003147 0.003104
Saturday, May 30, 2020 0.000080 -0.003194 0.003184
Sunday, May 31, 2020 0.000087 -0.003045 0.003072

Cryptorating

Cryptorating predicted that in the middle of April, Dogecoin will have a price of $0.001304, which would signify a loss of -33.89%,

WalletInvestor

WalletInvetsor’s Dogecoin price prediction for the start of May is that the coin will have an average price of $0.002048, a maximum of $0.00210, and a minimum of $0.00200.

Dogecoin Price Prediction: Verdict

This has been our Dogecoin price prediction for May 2020. We hope that the information we have featured here will be of some use in your trading decisions.

Featured image: elevenews.com

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