On-chain intelligence platform Santiment says opportunistic traders can benefit from the low level of online discussion surrounding the top meme coin Dogecoin (DOGE).

In a January 9 report, Santiment gave Dogecoin a crowd optimism score of 1 out of 5, in contrast to positive sentiment ratings of 4 out of 5 for XRP and Solana. Meanwhile, Dogecoin has dropped 28% in market capitalization from its January high, exacerbating the lack of interest.

Despite the downtrend, Santiment believes that DOGE's "extremely quiet" period could be the ideal opportunity for courageous investors to enter the market. If the broader cryptocurrency market begins to recover, Dogecoin could see a resurgence as predicted by previous social trends and speculative excitement.

Some cryptocurrency traders also believe that Dogecoin’s long-term prospects remain positive. Anonymous trader Wizz expressed confidence to his 768,700 followers that Dogecoin will overtake major cryptocurrencies in the next three to six months.

Similarly, crypto expert KrissPax observed that DOGE’s recent price behavior resembles the trend of a year ago, implying that the price could surge in 2025. This view is shared by many other analysts, who predict that the top meme coin will rise to $3-5 by 2025.

In addition to the social media hype, Google searches for Dogecoin have dropped 74% since November 2024. Notably, this decline coincided with the dismissal of a high-profile class-action lawsuit against Elon Musk and Tesla, which accused Musk of manipulating the price of Dogecoin. Although social media chatter and user interest have died down, periods of low hype have historically proven to be conducive to strategic accumulation.

Dogecoin's recent decline in sentiment and social media hype appears to be a buying opportunity for cryptocurrency investors. If DOGE can capture the market-wide bullish trend, it could stage an impressive comeback that rewards investors who were patient during the sell-off.

Santiment Says Sentiment on BTC is Neutral as ETH Struggles to Stay Above $3,000

Santiment also said that social media sentiment towards Bitcoin is currently neutral when analyzed by the ratio of positive to negative comments. Audiences turned negative after the Fed-induced pullback on December 20.

Meanwhile, Ethereum has recently attracted attention after its price quickly reclaimed support at $4,000, according to Santiment. Ethereum is currently looking to maintain its market value above $3,000 per unit, the report added. If this level is broken, volatility will increase and buying opportunities will arise with higher risk tolerance, Santiment added.