Dogecoin has been pretty quiet lately, and that might just be a golden opportunity for traders.
Santiment shared that the current dip in social media buzz and overall sentiment around Dogecoin could signal a perfect buying moment before the market swings back up.
Good boy
Santiment pointed out that crowd sentiment for Dogecoin is at one of its lowest points this year.
They even gave it a bearish rating of just 1 out of 5, which is a stark contrast to the more upbeat ratings of 4 out of 5 for other cryptos like XRP and Solana.
But here’s the twist, because Santiment believes that being bullish on DOGE during this extremely quiet period could pay off big time when the crypto market starts to heat up again.
“Crypto’s top memecoin has been pretty silent, except for a brief spike earlier this year when Elon Musk changed his handle to ‘Kekius Maximus.’ Since then, Dogecoin has lost about 28% of its market cap.”
Price performance
As of now, Dogecoin is trading at around $0.34, down 15.3% over the past month. Other memecoins aren’t faring much better at all, Shiba Inu is down 15.9%, and Pepe has dropped by 22.2%.
Despite the current lull in excitement, some traders are optimistic about Dogecoin’s potential in 2025.
A pseudonymous trader known as Wizz shared on X that DOGE could outperform many major cryptocurrencies in the next few months, and another trader, KrissPax, echoed this sentiment, noting that Dogecoin’s price action resembles its movements from last year.
So meme, such gainz
Analysts are forecasting that Dogecoin could jump between $3 and $5 in 2025 based on technical indicators like the Gaussian Channel, which helps traders identify price action trends.
Interestingly, Google searches for Dogecoin have plummeted nearly 74% since Donald Trump won the presidential election back in November, and this decline coincided with a class-action lawsuit against Elon Musk being dropped, which had alleged he manipulated DOGE prices through his media presence.
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