DOGE ’extremely quiet’ social chatter could be an opportunity: Analyst

Dogecoin Sentiment at Lows, Signal for Buying Opportunity

Crypto analysis firm Santiment suggests that a decline in Dogecoin-related social media posts and sentiment may present a buying opportunity.

Bearish Sentiment on Dogecoin

Santiment's January 9th report indicates that Dogecoin's crowd sentiment has reached a one-year low, with a rating of 1 out of 5. This contrasts with XRP and Solana, which have received ratings of 4 out of 5.

Potential for Growth Amidst Quiet Period

Despite the bearish sentiment, Santiment believes that Dogecoin has the potential for upside if the crypto market rebounds. They note that Dogecoin has experienced a significant decline of 28% in market cap since its peak a month ago.

At the time of publication, Dogecoin is trading at $0.34, down 15.33% over the past month.

Community Optimism for 2025

Some traders believe that Dogecoin could perform well in 2025. Pseudonymous trader Wizz predicts that Dogecoin will outperform major cryptocurrencies in the next three to six months. KrissPax suggests that Dogecoin's price action resembles that of a year ago, indicating a potential surge in 2025.

Fading Hype, but Analysts Remain Bullish

Despite the lack of social media buzz, some analysts remain optimistic about Dogecoin's future. They predict that Dogecoin could reach between $3 and $5 in 2025 based on the Gaussian Channel indicator.

Legal Update

The class-action lawsuit against Elon Musk and Tesla for allegedly manipulating Dogecoin's price was withdrawn on November 14, 2024.