Dogecoin Sentiment Nears Lowest In A Year, Signaling A ‘’Daring Contrarian’’ Opportunity

Dogecoin Sentiment Turns Bearish, Signifying Potential Upside

Sentiment towards Dogecoin (DOGE), the popular meme cryptocurrency, is near its lowest point in a year, according to blockchain analytics firm Santiment. This could indicate significant upside potential if the broader crypto market recovers.

Crowd Sentiment Suggests Contrarian Upside

"Crowd sentiment has been near its lowest point over the past year, meaning there is actually some nice upside to be a daring contrarian toward DOGE (in particular) if crypto markets begin to trend upward again," Santiment analysts noted in a recent report.

Trader Predicts "Selling Climax Bottom" Formation

Independent trader and analyst "Trader Tardigrade" observed that Dogecoin has lost about 28% of its value since its peak a month ago. However, they suggest that the meme coin may be forming a "selling climax bottom."

Additionally, they pointed out that DOGE remains above a crucial support trendline, indicating a potential "sign of strength" and subsequent surge in value.

Altcoin Bull Market Not Over, Analyst Says

Prominent trader Michael van de Poppe dismisses the notion that the altcoin bull market has ended. He believes the recent market correction is merely a shake-out before the actual rally.

"There's so much on the horizon that will reward you if you're holding those altcoins," van de Poppe asserted. He predicts that the upcoming market value will significantly surpass the current one.