On-chain intelligence platform Santiment says that the low levels of online interaction around Dogecoin (DOGE) could present a potential gain for opportunistic investors. While Dogecoin’s market cap has fallen by 28%, Santiment believes that DOGE’s current quiet period presents an ideal opportunity for bold investors. Santiment’s report highlights the “sentiment” scores of five different cryptocurrencies, but notes that only Dogecoin presents a buying opportunity among them. Here are the details…
Santiment Gives Negative Sentiment Score to Dogecoin
In a report dated January 9, Santiment gave Dogecoin an optimistic sentiment score of just 1 out of 5, contrasting with the positive sentiment scores of 4 out of 5 for XRP and Solana. Dogecoin has seen a 28% drop in market value since its January peak, indicating waning investor interest. However, despite the bearish trend, Santiment noted that DOGE’s “extremely quiet” period could be a major opportunity for bold investors. If the broader crypto market rebounds, Dogecoin could be expected to revive in line with social trends and speculative excitement.
Crypto Market Outlook: XRP and Solana Perform Well
The Santiment report emphasized that while Bitcoin price fluctuates, Ethereum is struggling along with altcoins. While XRP has recently gained value, Binance Coin’s direction remains uncertain. Although Solana’s performance has declined, crypto traders are still optimistic. In this context, Dogecoin’s low sentiment score points to the potential of offering a buying opportunity for some investors.
Dogecoin's Long-Term Outlook: Some Investors Have Positive Expectations
Many crypto traders believe that Dogecoin will perform positively in the long term. For example, popular crypto influencer Wizz suggested to his 768,700 followers that Dogecoin will surpass major cryptocurrencies in the next three to six months. Additionally, crypto expert KrissPax stated that DOGE’s recent price action is similar to trends from a year ago and that a major price breakout could occur by 2025. This view is supported by other analysts who predict that Dogecoin could reach the $3-$5 range by 2025.
Dogecoin Google Searches Drop 74%: Low Hype Period Could Be Opportunity for Strategic Accumulation
Google searches for Dogecoin have decreased by 74% since November 2024. However, Santiment analyst BrianQ notes that the decline in social media chatter and user interest has historically made it beneficial to strategically accumulate during periods of low hype. Dogecoin’s recent sentiment and decline in social media hype could signal a buying opportunity for investors. If DOGE follows the market’s general upward trend, it could provide a significant return for investors who remained patient during the decline.
Bitcoin and Ethereum: Social Media Sentiment at Neutral Level
Santiment notes that social media sentiment for Bitcoin is currently neutral. The crowd turned more negative after the Fed-led pullback on December 20. Ethereum recently retested the $4,000 support level and is currently struggling to stay above $3,000. Santiment adds that if Ethereum breaks this level, volatility could increase and buying opportunities could arise for investors with high risk tolerance.