Dogecoin News: DOGE ‘Extremely Quiet’—A Hidden Buying Opportunity, Analyst Suggest

Dogecoin's Bearish Trend: Analysts Predict Rebound

Dogecoin (DOGE) has experienced a downtrend, attributed to investors' sentiment reaching its lowest point in a year. However, analysts anticipate a pullback from the current consolidation, targeting $1 to $3.2 by year's end.

DOGE's attempt to initiate a bullish rally on its daily price chart failed, leading to a decline to $0.33. Prior to this, the meme coin had broken a key resistance level, registering a 22% gain over the previous week.

The current sentiment indicates that DOGE will require increased volume to overcome the bearish market trend, having lost 1.84% over the past 24 hours, extending its monthly loss to 17.6%.

Supporting the bearishness is the Crowd sentiment, which has fallen to its lowest point in a year. Santiment data reveals DOGE's rating as 1 out of 5, in contrast to XRP's 4 out of 5. This sentiment reflects investors' opinions and attitudes towards the asset.

Google searches for "Dogecoin" have also declined significantly by 74% since reaching a yearly high after the US election. As of January 4, searches had recorded a score of only 24, a 74-point decrease from the November 16 score of 100.

Performance and Predictions

Despite its struggles, DOGE remains optimistic for the future. The meme coin has been included in a list of three expected to "explode" by 2025.

Analysts Wizz and KrissPax believe there may be a reversal, with DOGE potentially outperforming top cryptocurrencies in the coming months. KrissPax notes similarities between the current price behavior and 2024, suggesting a period of consolidation before a significant move.

Trader Tardigrade projects DOGE to breach key resistance levels and reach $1 this year, with a potential to finish the year at $3.2. However, volatility remains a risk factor for the asset.