Analysis

Dogecoin (DOGE) Has ‘Nice’ Potential Upside if Crypto Markets Begin Going Up, According to Santiment

Published

8 months ago

January 9, 2025

Crypto analytics agency Santiment says meme asset Dogecoin (DOGE) is about up for an explosive transfer greater because the digital asset market begins to get well.

In response to Santiment, that is one of the best memecoin by way of market capitalization finished for a breakout after falling greater than 30% from the latest excessive of $0.46 in early December.

Santiment says there’s excessive potential for a DOGE wave, based mostly on a pointy decline in market sentiment for the digital asset, as measured by social media mentions.

Says Santiment,

“Markets have traditionally moved in the wrong way of public expectations.”

DOGE obtained the bottom market sentiment rating of 1 out of 5 from Santiment, with one being probably the most bearish, based mostly on the memecoin’s “regular” market sentiment over the previous three months.

“Crypto’s high memecoin has been extraordinarily quiet, other than a brief run-up originally of the yr (coinciding with Elon Musk’s temporary change of deal with to ‘Kekius Maximus’).

Since its peak precisely a month in the past, Dogecoin has misplaced -28% of its market capitalization. Public sentiment has been close to its lowest level over the previous yr, that means there’s really a pleasant upside to having a daring contrarian stance on DOGE (significantly) if the crypto markets return up.”

DOGE is buying and selling at $0.32 on the time of writing, down 2% within the final 24 hours.

Do not miss a beat – Subscribe to obtain e-mail alerts straight to your inbox

Test value motion

Observe us additional X, Facebook And Telegram

Surf to the Each day Hodl combine