CoinCodex’s machine learning algorithm predicts that Dogecoin could rally to $0.2, representing a gain of over 17% from its current level, offering a bullish outlook for the meme coin.
The algorithm suggests Dogecoin may reach $0.21 next month, but also predicts a potential drop to $0.164 in July, with a subsequent recovery to $0.2 by the month's end.
Crypto analyst Kevin Capital warns that Dogecoin faces the risk of entering bear market territory if certain key support levels are breached, but could outperform later in the year with favorable conditions.
Dogecoin's price movement is currently tied to Bitcoin’s performance, with Kevin Capital emphasizing that a bounce in DOGE depends on Bitcoin's behavior, as both coins exhibit correlational trends.