Dogecoin And Shiba Inu Fear & Greed Index Drops To Neutral, Time To Buy?

Shiba Inu and Dogecoin: Neutral Sentiment Signals Potential Buying Opportunity

Shiba Inu and Dogecoin remain popular choices for investors as the bull market approaches. However, recent price declines have dampened market sentiment for these meme coins. As sentiment falls into neutral territory, it may indicate an opportune time for investors to re-enter the market.

Dogecoin and Shiba Inu Sentiment Drops to Neutral

The Fear & Greed Index gauges investor sentiment towards specific assets. Higher values indicate increased willingness to invest, while lower values suggest caution.

The index measures sentiment across five categories: Extreme Fear, Fear, Neutral, Greed, and Extreme Greed, represented by numerical values. Currently, both Dogecoin and Shiba Inu have neutral sentiment, with scores of 52 and 51, respectively.

Is It Time to Buy?

Historically, buying during periods of investor wariness has proven beneficial. This often coincides with market lows, providing ideal entry points. However, extreme fear typically precedes such opportunities, not neutral sentiment.

Despite neutral sentiment, Dogecoin and Shiba Inu exhibit bullish metrics, including increased daily trading volume. Dogecoin's volume has risen 15.51% to $845.7 million, while Shiba Inu's has surged 22.86% to $389 million.

This suggests that despite neutral sentiment, interest in these meme coins remains strong. While it may not be optimal to invest heavily, smaller positions and dollar-cost averaging (DCA) may be a prudent strategy.

Long-Term Bullish Outlook

The bull market is anticipated to continue and potentially surpass previous highs. As the market recovers, current prices may appear as bargains in retrospect.

DOGE price holds above $0.5 | Source: DOGEUSDT on Tradingview.com Featured image generated using Dall.E, chart from Tradingview.com