{"id":611386,"date":"2024-06-04T22:00:03","date_gmt":"2024-06-04T22:00:03","guid":{"rendered":"https:\/\/www.shenyangcang.com\/?p=611386"},"modified":"2024-06-04T14:12:06","modified_gmt":"2024-06-04T14:12:06","slug":"dogecoin-social-sentiment","status":"publish","type":"post","link":"https:\/\/www.shenyangcang.com\/news\/dogecoin\/dogecoin-social-sentiment\/","title":{"rendered":"Dogecoin Social Sentiment Turns Bearish And Drops To March Levels, What This Means For Price"},"content":{"rendered":"

Crypto analyst Ali Martinez<\/span><\/a> recently revealed the bearish sentiment surrounding <\/span>Dogecoin (DOGE)<\/span><\/a>. Interestingly, he suggested this might be a <\/span>good opportunity<\/span><\/a> to invest in the foremost meme coin as things could soon turn bullish.\u00a0<\/span><\/p>\n

The Bearish Sentiment Around Dogecoin<\/h2>\n

Martinez mentioned in an X (formerly Twitter) <\/span>post<\/span><\/a> that the market sentiment for Dogecoin is as bearish as it was in early February. Specifically, the crypto analyst was referring to Dogecoin\u2019s <\/span>social volume<\/span><\/a> and weighted sentiment, which were currently signaling a negative sentiment towards the meme coin.\u00a0\u00a0<\/span><\/p>\n

Related Reading: Can Bitcoin Rise 150% From Here? Crypto Expert Peter Brandt Predicts The Top<\/a><\/div>\n
\"Dogecoin
Source: X<\/figcaption><\/figure>\n

This social volume metric refers to how much the crypto token is discussed across social media platforms. Therefore, the decline in Dogecoin\u2019s social volume suggests that traders are currently paying more attention to other meme coins. This is expected given how Dogecoin\u2019s price has lagged for a while now, with other meme coins like <\/span>Dogwifhat (WIF) and Pepe (PEPE)<\/span><\/a> recording significant gains.<\/span><\/p>\n

However, Martinez suggested that Dogecoin could enjoy a bullish reversal soon enough, revealing that Dogecoin\u2019s price skyrocketed by over 200% back in February when it was plagued with such bearish sentiment. Dogecoin whales seem to have taken the hint and used this opportunity to accumulate more of the meme coin.\u00a0<\/span><\/p>\n

Martinez revealed that these investors have already purchased 700 million ($112 million). The crypto analyst also <\/span>mentioned<\/span><\/a> that these whales have bought an additional 200 million DOGE since May 30. This is undoubtedly in anticipation of the significant price gains that Dogecoin could make soon enough.\u00a0<\/span><\/p>\n

\"Dogecoin
Source: X<\/figcaption><\/figure>\n

Crypto analyst Altcoin Sherpa also recently <\/span>raised<\/span><\/a> the possibility of Dogecoin rising to as high as $0.40 soon enough. He claimed that this would happen as retail investors accumulate the meme coin. He further alluded to <\/span>Elon Musk\u2019s influence<\/span><\/a> on the meme coin and stated that \u201call it takes is one retarded Elon tweet to blow it (Dogecoin) up.\u201d He added that Dogecoin has \u201cgreat liquidity\/low downside\u201d compared to other meme coins.\u00a0<\/span><\/p>\n

DOGE Season Around The Corner<\/h2>\n

Crypto analyst Crypto Kaleo<\/span><\/a> recently predicted that Dogecoin\u2019s season might be around the corner. He alluded to the fact that Dogecoin rose significantly in 2021 after GameStop\u2019s stock hit its peak in early 2021. He believes that Dogecoin could again rally once <\/span>GameStop<\/span><\/a> hits its market top.\u00a0<\/span><\/p>\n

Related Reading: XRP Hasn\u2019t Had A Bull Cycle Since 2017, Analyst Reveals What Will Happen When It Does<\/a><\/div>\n

In another <\/span>X post<\/span><\/a>, Kaleo revealed that he is confident that <\/span>Dogecoin can outpace Bitcoin<\/span><\/a> in this cycle. He suggested that Dogecoin\u2019s current price action is normal, claiming that the meme coin \u201cmoves sideways for extended periods, followed by rapid vertical growth.\u201d The crypto analyst also noted that the market is in a <\/span>meme supercycle<\/span><\/a> and remarked that the \u201cking of memes won\u2019t be left behind.\u201d<\/span><\/p>\n

At the time of writing, Dogecoin is trading at around $0.15, down over 2% in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n

\"Dogecoin
DOGE price jumps with market | Source: DOGEUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto analyst Ali Martinez recently revealed the bearish sentiment surrounding Dogecoin (DOGE). Interestingly, he suggested this might be a good opportunity to invest in the foremost meme coin as things could soon turn bullish.\u00a0 The Bearish Sentiment Around Dogecoin Martinez mentioned in an X (formerly Twitter) post that the market sentiment for Dogecoin is as bearish as it was in early February. Specifically, the crypto analyst was referring to Dogecoin\u2019s social volume and weighted sentiment, which were currently signaling a negative sentiment towards the meme coin.\u00a0\u00a0 Related Reading: Can Bitcoin Rise 150% From Here? Crypto Expert Peter Brandt Predicts The Top This social volume metric refers to how much the crypto token is discussed across social media platforms. Therefore, the decline in Dogecoin\u2019s social volume suggests that traders are currently paying more attention to other meme coins. This is expected given how Dogecoin\u2019s price has lagged for a while now, with other meme coins like Dogwifhat (WIF) and Pepe (PEPE) recording significant gains. However, Martinez suggested that Dogecoin could enjoy a bullish reversal soon enough, revealing that Dogecoin\u2019s price skyrocketed by over 200% back in February when it was plagued with such bearish sentiment. Dogecoin whales seem to have taken the hint and used this opportunity to accumulate more of the meme coin.\u00a0 Martinez revealed that these investors have already purchased 700 million ($112 million). The crypto analyst also mentioned that these whales have bought an additional 200 million DOGE since May 30. This is undoubtedly in anticipation of the significant price gains that Dogecoin could make soon enough.\u00a0 Crypto analyst Altcoin Sherpa also recently raised the possibility of Dogecoin rising to as high as $0.40 soon enough. He claimed that this would happen as retail investors accumulate the meme coin. He further alluded to Elon Musk\u2019s influence on the meme coin and stated that \u201call it takes is one retarded Elon tweet to blow it (Dogecoin) up.\u201d He added that Dogecoin has \u201cgreat liquidity\/low downside\u201d compared to other meme coins.\u00a0 DOGE Season Around The Corner Crypto analyst Crypto Kaleo recently predicted that Dogecoin\u2019s season might be around the corner. He alluded to the fact that Dogecoin rose significantly in 2021 after GameStop\u2019s stock hit its peak in early 2021. He believes that Dogecoin could again rally once GameStop hits its market top.\u00a0 Related Reading: XRP Hasn\u2019t Had A Bull Cycle Since 2017, Analyst Reveals What Will Happen When It Does In another X post, Kaleo revealed that he is confident that Dogecoin can outpace Bitcoin in this cycle. He suggested that Dogecoin\u2019s current price action is normal, claiming that the meme coin \u201cmoves sideways for extended periods, followed by rapid vertical growth.\u201d The crypto analyst also noted that the market is in a meme supercycle and remarked that the \u201cking of memes won\u2019t be left behind.\u201d At the time of writing, Dogecoin is trading at around $0.15, down over 2% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":611409,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1785,89174,85675,7,1803,1804,79599,79600],"class_list":["post-611386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-doge-news","tag-doge-price","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-price","tag-dogeusd","tag-dogeusdt"],"acf":[],"yoast_head":"\nDogecoin Social Sentiment Turns Bearish And Drops To March Levels, What This Means For Price<\/title>\n<meta name=\"description\" content=\"Crypto analyst Ali Martinez recently revealed the bearish sentiment surrounding Dogecoin (DOGE) fairly recently.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. 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