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Santiment, the decline in social media posts and general sentiment around Dogecoin could indicate a buying opportunity for traders.
"Public morale was close to its lowest point over the past year," Santiment said in a report released on January 9.
Dogecoin analysis company gave
Dodge
Low indicators
$0.3318
The "bearish public sentiment" rating is 1 out of 5, which is significantly lower than the 4 out of 5 ratings for XRP.
Ripple currency
Low indicators
$2.30
Vasolanana
Civil
Low indicators
$190.17
.
Dogecoin, Cryptocurrencies, Markets
Dogecoin social media dominance chart. Source: Santiment
DOGE Stock Optimism During 'Extremely Quiet' Period May Pay Off
However, Santiment said there is potential for “some good upside” and to be a “bold bull” with Dogecoin if crypto markets start trending upward again.
“The cryptocurrency world’s most valuable meme coin has been very quiet except for a temporary spike at the beginning of the year (coinciding with Elon Musk’s brief name change to “Kekius Maximus”). Since its peak exactly one month ago, Dogecoin has lost -28% of its market cap.”
At the time of publishing this article, Dogecoin is trading at $0.34, down 15.3% over the past 30 days, according to CoinMarketCap.
Other meme coins in the top 100 cryptocurrencies also saw declines during the same period. Shiba Inu
Slope
Low indicators
0.00002095
Bitcoin, the 16th largest cryptocurrency by market cap, fell 15.9%, while Bitcoin
Baby
Low indicators
0.00001764
It decreased by 22.2%.
Dogecoin is trading at $0.3406 at the time of publication. Source: CoinMarketCap
Despite the current lack of buzz on social media, some traders say Dogecoin could be one of the best performing coins in 2025.
Traders are optimistic about Dogecoin’s performance in 2025
Cryptocurrency trader Wizz, who uses a pseudonym, told his 768,700 followers in a post on Jan. 6 that Doge will outperform most major cryptocurrencies in the next three to six months.
Cryptocurrency trader KrissPax told his 63,700 followers on Jan. 9 that Dogecoin’s price action is similar to what it was a year ago.
“In November 2024, Doge prices rose, then fell and are now in a consolidation phase. The next step is a big move higher in 2025,” according to KrissPax.
Related: Dogecoin Jumps 21% as Whales Accumulate, Galaxy Predicts $1 DOGE
Other analysts say that Dogecoin is expected to reach $3-$5 in 2025, based on the Gaussian Channel indicator, which allows traders to identify upper and lower channels of price movement based on the principle of asset distribution.
Meanwhile, Google searches for “Dogecoin” have dropped by about 74% since the week after Donald Trump won the US presidential election on November 5.
That same week, plaintiffs withdrew a class-action lawsuit against Elon Musk and Tesla — alleging that the businessman manipulated the price of Dogecoin through media appearances and social media posts.
According to Google data, searches for “Dogecoin” on January 4 over the past seven days scored 26 points, a 74-point drop from the 100 score reached on November 16.
