DOGE ‘Extreme silence’ could be an opportunity for social dialogue: analyst
A decline in social media posts and overall sentiment around Dogecoin could signal a buying opportunity for traders, according to crypto analytics firm Sentiment.
“Public sentiment was near its lowest level in the past year,” Santiment said in a Jan. 9 report.
The analyst firm gave Dogecoin (DOGE) a “bearish” public sentiment rating of 1 out of 5, which is much lower than the 4 out of 5 ratings for XRP (XRP) and Solana (SOL).
Dogecoin social dominance chart. Source: Sentiment
Bullying at DOGE may pay off during ‘super quiet' times.
However, Santiment believes there is a chance for a “bold contrarian” to Dogecoin if crypto markets start to turn higher again.
“Crypto-top memecoin has been very quiet outside of a temporary run at the beginning of the year (associated with Elon Musk's short-sleeve switch to ‘Cuckus Maximus'). Since peaking just over a month ago, Dogecoin has shed -28% of its market cap.
According to CoinMarketCap, at the time of publication, Dogecoin is at $0.34, down 15.33% in the last 30 days.
Other memecoins in the top 100 cryptocurrencies have seen declines over the same period. Shiba Inu (SHIB), the 16th largest cryptocurrency by market value, fell 15.92 percent, while Pepe (PEPE) fell 22.17 percent.
Dogecoin is trading at $0.3406 at the time of publication. Source: CoinMarketCap
Despite the current lack of publicity on social networks, some traders believe that Dogecoin could be one of the top performers of 2025.
Traders are optimistic about Dogecoin's performance in 2025.
Anonymous crypto trader Wiz told his 768,700 X followers in a January 6 X post that Doge will outperform most major cryptocurrencies in the next three to six months.
Crypto trader KrissPax told his 63,700X followers on January 9th that Dogecoin's price action was similar to a year ago.
“In November 2024, the Doge paid it off, then it went down and now it's getting stronger. Next is a big step in 2025,” said KrissPax.
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Other analysts believe that Dogecoin will peak between $3 and $5 in 2025, based on the Gaussian Channel indicator, which allows traders to identify the upper and lower channels of price action based on the principle of asset distribution.
Meanwhile, in the week since Donald Trump won the US presidential election on November 5, Google searches for “Dogecoin” have dropped nearly 74%.
That same week, a class-action lawsuit against Elon Musk and Tesla — alleging that the businessman manipulated the value of Dogecoin through media appearances and social media posts — was dismissed by the plaintiffs on November 14, 2024.
According to Google data, searches for “Dogecoin” in the last seven days on January 4th recorded 26, a decrease of 74 points from 100 points reached on November 16th.
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This article is not intended for general information purposes and should not be construed as legal or investment advice. The views, ideas and opinions expressed herein are solely those of the author and do not necessarily represent the views and opinions of Cointelegraph.
