Analysis: Declining social media popularity and overall Dogecoin sentiment could signal a potential buying opportunity
Odaily reports that according to crypto analytics firm Santiment, the decline in social media post volume and the overall sentiment on Dogecoin may signal buying opportunities for traders. Santiment's report on January 9th stated that "group sentiment has approached its lowest point over the past year." They gave Dogecoin a "bearish" sentiment rating of 1 out of 5, significantly lower than the 4 out of 5 ratings for XRP and SOL. However, they believe that if the crypto market resumes an upward trend, being a "bold contrarian investor" in Dogecoin could bring "some good upside." While there is currently a lack of hype on social media, some traders believe Dogecoin could be one of the best-performing currencies by 2025. For example, anonymous crypto trader Wizz recently stated that Dogecoin will outperform most major cryptocurrencies in the next 3-6 months. Crypto trader KrissPax believes Dogecoin's price action is similar to a year ago, "with a price surge in November 2024, followed by a decline, and currently consolidating. The next step will be a significant rise in 2025."
