Is Dogecoin Ready to Ghost Us in May? Spoiler: It’s Complicated 🐕💸

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Meet Josh Olszewicz, aka @CarpeNoctom—crypto trader, chart whisperer, and part-time dog pun enthusiast. He just took the classic “Sell in May and go away” stock market mantra and gave it a shiny, furry makeover: “Dogecoin in May and Walk Away?” Because what’s not to love about mixing ancient financial wisdom with a meme coin named after a Shiba Inu? 🐶

Should You Sell Dogecoin in May? Or Just Take Your Dog for a Walk?

Josh highlights a potential “inverse head-and-shoulders” pattern (that’s trading-speak for “looks like a confused dog tilting its head twice”), happening between February and April. Our four-legged friend’s price is playing a cute game around $0.14 to $0.18—like it’s sniffing for a right shoulder low to match its March left shoulder and April head. Hopefully, this pupper knows what it’s doing.

Dogecoin chart with head and shoulders pattern

The chart features two dotted lines drawing a downward neckline, as if Dogecoin’s trying to limbo under some invisible bar set around $0.185–$0.195. Close above that, and boom—our furry friend jumps toward $0.23. If things get really wild, it might even sniff $0.28 around mid-June (price shelf or dog treat, you decide).

Josh’s 🍵-sipping Ichimoku tea settings are adjusted for crypto’s mood swings, making this chart the yoga instructor of technical analysis—flexible, but still judging your moves. Dogecoin’s price currently hangs out between a rising Tenkan-sen at $0.165 and a flat Kijun-sen near $0.186. Translation: It’s kind of stuck between “Come on, rally!” and “Eh, maybe nap for a bit.”

The forecast? A red cloud looms ahead—a bearish Kumo that’s more “don’t try this at home” than “ultimate strength.” Even if Dogecoin busts that neckline, it risks running into a supply zone between $0.21 and $0.31, basically crypto’s equivalent of a dog park full of unfriendly squirrels. 🐿️

Here’s the play: The bulls have a two-step challenge—first, they need to reclaim that neckline and Kijun like a dog fetching its leash, then power through the supply overhang like a determined pup chasing a tennis ball stuck under the couch.

Josh’s twist on the age-old wisdom about May—that time when markets usually whip out their lazy summer vibes—is to suggest Dogecoin could be the unexpected shiny thing investors tap on instead of running away from. But that depends on the bulls kicking off May like it’s the goodest boy, breaking out before things get gloomier than your Monday mood.

If Dogecoin can’t make the cut? It’ll keep sulking under resistance levels, trapped like a pup who rolled in the mud and knows it’s about to get a bath. Support levels around $0.165 and $0.14 hang like chew toys, maybe keeping the price entertained enough to avoid complete disaster.

At the time of writing, Dogecoin is chilling at $0.178. Not exactly fetch, but not ready to nap either. Stay tuned. 🐕‍💻

Dogecoin price chart

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2025-04-29 11:53