Cryptocurrency analytics firm Santiment said a drop in the number of social media posts and overall sentiment for Dogecoin could signal a buying opportunity for traders.
“Group sentiment is close to its lowest point in the past year,” Santiment said in a Jan. 9 report, giving Dogecoin a “bearish” group sentiment rating of 1 out of 5, significantly lower than XRP and SOL’s 4.
However, it believes that if the cryptocurrency market shows an upward trend again, then being a “bold contrarian investor” in Dogecoin could bring “some good upside.”
Despite the current lack of hype on social media, some traders believe that Dogecoin could become one of the best performing currencies in 2025. For example, anonymous cryptocurrency trader Wizz recently said that Dogecoin will outperform most major cryptocurrencies in the next three to six months.
Cryptocurrency trader KrissPax believes that the price trend of Dogecoin is similar to that of a year ago. "In November 2024, the price of Dogecoin rose, then fell, and is currently consolidating. Next will be a sharp rise in 2025." (Cointelegraph)