The Dogecoin price saw a much-needed rebound in the month of April after three months of agony for investors as its price crashed over 60%. On average, the meme coin is up by more than 6% this month, bringing it close to the $0.2 level, although unable to break it. With the month drawing to a close, investors are already looking toward the new month of May and what it could hold. So, here is what historical data says about May for Dogecoin.
Dogecoin Price Could Do Well In May
On average, the Dogecoin price has actually done well in the month of May. Data from the CryptoRank website shows an average 23% return for DOGE during this month. Although the median is low, it is still positive, coming in at 2.51%. Going by this data, it is possible that the Dogecoin price could continue the recovery.
For example, in May 2024, the Dogecoin price rose 19.1% in May. This is in contrast to the previous three years, though, when the DOGE price came back negative. So far, in the last 11 years, there have been a total of six years where the month of May ended positively and five years when it ended in the negative. This close gap suggests that it is a month that sees a battle between the bears and the bulls.
Looking at the year so far, there has also been an interesting trend when comparing 2025 to 2024. With four months already closing in 2025, the charts show a completely opposite performance between the two years. Firstly, the month of January ended on a negative note in 2024, while January ended on a positive note in 2025.
The next two months, February and March, were incredibly bullish for the Dogecoin price in 2025, ending with gains of 50% and 87.5%, respectively. Sticking to the inverse performance trend, the months of February and March were very negative in 2025, ending in the red with -38.5% and -17.5%, respectively.
This trend then continues into April, where the month ended on a negative note of -39.5% in 2024, and yet there has been an increase of 6.9% for the Dogecoin price this month. If this inverse performance continues, then the month of May could be very bearish for Dogecoin given that May 2024 ended on a positive note of 19.1%.
Nevertheless, positive sentiment is still holding in the community, with expectations of higher prices. One recent development is billionaire Elon Musk posting a badge branding him “The Dogefather” for the Department of Government Efficiency (D.O.G.E).
Given that Musk is the reason behind the legendary 36,000% Dogecoin rally in 2021, this has been well-received as a sign that he could continue to drive up the price of the altcoin.
