Santiment believes that low DOGE social activity can bring opportunities

The Santiment chain information intelligence platform indicates that traders may benefit from low online discussion surrounding the leading meme coin Dogecoin (DOGE). In the report on January 9, Santiment gave Dogecoin a crowd sentiment score of 1 out of 5, in contrast to the positive sentiment ratings of 4 out of 5 for XRP and Solana. Meanwhile, Dogecoin has decreased by 28% in market capitalization compared to its peak in January, further exacerbating the lack of interest. Despite the downward trend, Santiment believes that the "extremely calm" phase of DOGE could be an ideal opportunity for brave investors to enter the market. If the larger cryptocurrency market begins to recover, Dogecoin could witness a revival as predicted by previous social trends and speculative excitement. Some cryptocurrency traders also believe in the long-term prospects of Dogecoin. Anonymous trader Wizz expressed confidence with their 768,700 followers, stating that Dogecoin will surpass major cryptocurrencies in the next three to six months.

Similarly, cryptocurrency expert KrissPax has observed that the recent price behavior of DOGE is similar to the trend from a year ago, suggesting that the price could increase significantly in 2025. This viewpoint is shared by many other analysts, who predict that this leading meme currency will rise to $3-5 in 2025. The market's dynamics and legal developments affecting DOGE In addition to the exaggeration on social media, Google searches for Dogecoin have decreased by 74% since November 2024. It is worth noting that this decline coincides with the dismissal of a high-profile class action lawsuit against Elon Musk and Tesla, accusing Musk of manipulating Dogecoin's price. Although the online conversations and user interest have subsided, low exaggeration periods in history have proven to be beneficial for accumulating strategies. The recent decline in sentiment and hype on social media for Dogecoin seems to be a buying opportunity for cryptocurrency investors. If DOGE can capture the upward trend in the overall market, it could make an impressive comeback, rewarding patient investors during the sell-off. Santiment states that sentiment towards BTC is neutral as ETH tries to maintain above $3,000 Santiment also noted that social media sentiment towards Bitcoin is currently neutral when analyzed by the ratio of positive and negative comments. The audience turned negative after the Fed's retreat on December 20th. Meanwhile, Ethereum has recently attracted attention after its price quickly rebounded to the support level of $4,000, according to Santiment. Ethereum is currently trying to maintain its market value above $3,000 per unit, the report added. If this level is broken, volatility will increase and buying opportunities with higher risk will emerge, Santiment added.