Featured image from Bitcoinist, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
As April comes to a bearish close, expectations for Dogecoin in May are not exactly bullish, especially as the crypto market has continued to fall. DOGE has been one of the main losers during this time, falling below $0.14. This underperformance is expected to continue as the machine learning algorithm at CoinCodex predicts further decline for the meme coin. Algorithm Predicts Another 13% Decline Despite the Dogecoin price already suffering a notable 14% decline in the last week, the machine learning algorithm believes it will fall another 13% in the month of May. The machine learning algorithm, which takes a number of metrics into consideration, presented that the DOGE price remains very bearish despite the market still sitting in greed. For the month of May, the algorithm expects the meme coin\u2019s price to decline by a total of 13.66% from here, falling below $0.13 to $0.1238. Even on the shorter term, the Dogecoin price remains bearish with an expected 1% decline to $0.14 in the next five days. On the broader timeframe, expectations for the meme coin are not high as the machine learning algorithm does not expect the cryptocurrency to reach a new all-time high until 2029. For the year 2025, it gives the meme coin a yearly high of over $0.66, which is less than its current all-time high price of $0.7. The next two years after this are expected to be bearish as the price is predicted to fluctuate around $0.126 and $0.25. Then, a new all-time high price of $1.4 is expected. If this plays out, then it would mean that Dogecoin investors would have to wait another five years to see new peaks. Dogecoin Metrics Tell A Different Story While the machine learning algorithm remains bearish, the Dogecoin metrics have been painting a picture of bullishness. For example, there has been a steady increase in the Dogecoin trading volume, rising 28% in the last day alone. This suggests a return of investor interest and if it translates into demand, it could see the price rise rapidly from here. There has also been an accumulation trend for the meme coin, especially among whales. One whale, in particular, withdrew 226 million DOGE from the Robinhood exchange in two transactions. Usually, when investors move coins from exchanges to private wallets, it means they are accumulating for better prices. This could signal a turn in the tide. However, at the time of writing, the Dogecoin price is still struggling at $0.135, with a 4% drop in the last 24 hours. A reversal from here could see DOGE retest the $0.15 resistance. But a breakdown could send it back toward $0.12. DOGE price breaks down below $0.14 | Source: DOGEUSDT on Tradingview.com Featured image from Bitcoinist, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":605864,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1785,89174,85675,7,1803,1804,79599,79600],"class_list":["post-605855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-doge-news","tag-doge-price","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-price","tag-dogeusd","tag-dogeusdt"],"acf":[],"yoast_head":"\n
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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/shenyangcang.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Machine Learning Algorithm Predicts Dogecoin Price For May 2024","url":"http:\/\/shenyangcang.com\/news\/dogecoin\/algorithm-dogecoin-price-may-2024\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/news\/dogecoin\/algorithm-dogecoin-price-may-2024\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/04\/Dogecoin_6bfc6d.jpeg?resize=200%2C174","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/04\/Dogecoin_6bfc6d.jpeg?fit=290%2C174"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["doge","doge news","doge price","dogecoin","dogecoin news","dogecoin price","dogeusd","dogeusdt"],"dateCreated":"2024-05-01T13:30:04Z","datePublished":"2024-05-01T13:30:04Z","dateModified":"2024-05-01T13:30:04Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Machine Learning Algorithm Predicts Dogecoin Price For May 2024\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/dogecoin\\\/algorithm-dogecoin-price-may-2024\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/dogecoin\\\/algorithm-dogecoin-price-may-2024\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Dogecoin_6bfc6d.jpeg?resize=200%2C174\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Dogecoin_6bfc6d.jpeg?fit=290%2C174\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"doge\",\"doge news\",\"doge price\",\"dogecoin\",\"dogecoin news\",\"dogecoin price\",\"dogeusd\",\"dogeusdt\"],\"dateCreated\":\"2024-05-01T13:30:04Z\",\"datePublished\":\"2024-05-01T13:30:04Z\",\"dateModified\":\"2024-05-01T13:30:04Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/04\/Dogecoin_6bfc6d.jpeg?fit=290%2C174","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/605855"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=605855"}],"version-history":[{"count":0,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/605855\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/605864"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=605855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=605855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=605855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}