Dogecoin Price Prediction: May 31 Forecast

Dogecoin (DOGE) price experienced a dip this weekend, dropping by 5.75% compared to yesterday’s value as tracked by CoinStats. Despite the decline, DOGE briefly tested resistance at around $0.1945 before encountering buying pressure. If buyers maintain their momentum, a breakout could potentially push the price towards the $0.20 range. Looking at the broader timeframe, traders should scrutinize the weekend’s closing candle for potential insights. A false breakout with a low closing bar might trigger a short-term bounce back to the $0.20-$0.21 area. 7day charts show no reversal signals yet; if the weekly price action settles below the $0.20 mark, we may see further downside movement towards $0.16. At press time, DOGE is trading at around $0.1912.