DOGE ’extremely quiet’ social chatter could be an opportunity: Analyst
Dogecoin crowd sentiment is at a low point, which could point to a buying opportunity before the crypto market starts moving higher again, according to Santiment.
A decline in social media posts and overall sentiment around Dogecoin could signal a buying opportunity for traders, according to crypto analysis firm Santiment.
“Crowd sentiment has been near its lowest point over the past year,” Santiment said in a Jan. 9 report.
The analysis firm gave Dogecoin DOGE $0.3386 a “bearish” crowd sentiment rating of 1 out of 5, which is significantly lower than the 4 out of 5 ratings for XRP XRP $2.34 and Solana SOL $194.16.
Being bullish on DOGE during an ‘extremely quiet’ period could
pay off
However, Santiment believes there is potential for “some nice upside” to be a “daring contrarian” toward Dogecoin if the crypto markets begin to trend upward again.
“Crypto’s top memecoin has been extremely quiet outside of a temporary run-up at the beginning of the year (coinciding with Elon Musk’s brief handle change to ‘Kekius Maximus’). Since its top exactly one month ago, Dogecoin has shed -28% of its market cap.”
At the time of publication, Dogecoin is trading at $0.34, down 15.33% over the past 30 days, according to CoinMarketCap.
Other memecoins within the top 100 cryptocurrencies have also seen declines over the same period.
Shiba Inu SHIB $0.00002123, the 16th largest cryptocurrency by market cap, is down 15.92%, while Pepe PEPE $0.00001793 is down 22.17%.
Despite the current lack of hype on social media, some traders believe Dogecoin could be one of the top performers of 2025.
Traders hopeful of Dogecoin’s performance in 2025Pseudonymous crypto trader Wizz told their 768,700 X followers in a Jan. 6 X post that Doge will outperform most major cryptocurrencies in the next three to six months.
