A recent report from Santiment indicates that Dogecoin's sentiment has hit a low point, prompting some analysts to suggest it may represent a buying opportunity.
A recent report from Santiment indicates that Dogecoin's sentiment has hit a low point, prompting some analysts to suggest it may represent a buying opportunity. As of Jan. 9, Dogecoin is valued at around $0.34, marking a 15.3% decline over the past 30 days.
The analysis firm has assigned Dogecoin a "bearish" crowd sentiment rating of 1 out of 5, contrasting sharply with higher ratings of 4 out of 5 for other cryptocurrencies like XRP and Solana.
Santiment notes that the drop in social media chatter surrounding Dogecoin could signify a chance for investors. Despite its recent struggles, some traders remain hopeful about Dogecoin's prospects for 2025. Pseudonymous trader Wizz expressed confidence that Dogecoin could outperform major cryptocurrencies in the next few months.
Similarly, trader KrissPax observed that Dogecoin's current price trends resemble those from a year ago, predicting a major upward move in 2025.
Other meme coins have also experienced losses, with Shiba Inu and Pepe falling 15.9% and 22.2%, respectively, in the same timeframe. Additionally, Google searches for “Dogecoin” have decreased nearly 74% since the week after the 2024 U.S. presidential election, indicating a drop in public interest.
Analysts project that Dogecoin could reach between $3 and $5 by 2025, based on the Gaussian Channel indicator, which helps traders assess price trends.
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