Could Dogecoin see a price recovery in June?Dogecoin, which is the eighth ranked cryptocurrency on CoinmarketCap, with a total cap of around 18 billion USD, since its inception, this particular meme currency has been Industry giants like Elon Musk favor it and companies like Tesla have introduced it into payment systems, which will certainly add to the topicality and interest in the potential of the Dogecoin Market.
However, although Dogecoin has an unenviable position in the market, its price trend has not been smooth sailing. Since reaching a historic high of $0.73995 in June 2021, Dogecoin has not seen a similar recovery. Today, its price has dropped to $0.1241 at the time of writing, which is actually lower than around $0.15 at the start of the year. Although it rose to a three-year high of $0.2201 this year, the recovery is not sustainable.
However, despite facing many challenges, Dogecoin is still firmly in the top 10 cryptocurrencies, which is enough to prove its solid position in the market. So for investors, is Dogecoin expected to recover in June?
Judging from market sentiment, Dogecoin currently seems to be at the bottom. I have analyzed this Doge before and it is currently at the bottom.
However, this decline could also set the stage for a future recovery. When market sentiment reaches extreme pessimism, it is often an opportunity for a reversal.
