After a remarkable run, social media sentiment sours on DOGE
Americans carried the digital currency higher, but their enthusiasm may be waning. It was a Shiba Inu shooting across the sky: Dogecoin’s run over the past week will be one for the history books. However, for all the fireworks social media data is indicating that the meme’s run may have met its end. The digital currency, which originally launched in 2013 and has been at the center of a number of absurd headlines and scams over the years, notched another chapter in its often puzzling history over the past few days. On Friday, DOGE managed to eclipse Ethereum in total exchange volume....
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Data shows the sentiment around Ethereum (ETH) has recently soured on social media, something that could actually help the coin reverse its price. Ethereum Positive/Negative Sentiment Has Declined Recently According to data from the analytics firm Santiment, traders on social media have become bearish toward Ethereum following the price drawdown. The indicator of relevance here […]
Dogecoin’s sentiment has reportedly reached its most negative level in over a year. Crypto analyst Ali Martinez (@ali_charts) shared the below chart illustrating the current landscape of Dogecoin’s social sentiment and noted: “Investor sentiment around Dogecoin is at its most negative in over a year. Historically, extreme fear has set the stage for major reversals. This could be a prime opportunity to be a contrarian.” What This Means For Dogecoin Within the chart, the red line—the Weighted Sentiment—now sits at approximately -0.93, marking the steepest negative reading in more than 12....
The meme coin space is heating up as the rivalry between Dogecoin (DOGE), Shiba Inu (SHIB), and the latest contender, GoodEgg (GEGG), intensifies. While Dogecoin (DOGE) and Shiba Inu have enjoyed long-standing popularity as market leaders in the meme coin ecosystem, GoodEgg (GEGG) is now making waves with a recent game-changing announcement that sets it apart. Could this new announcement give GoodEgg (GEGG) the edge over its rivals, Dogecoin (DOGE) and Shiba Inu? Dogecoin (DOGE): The Original Meme Coin Battling Volatility Dogecoin (DOGE), the original meme coin, has remained a dominant....
The DOGE price action brings reminisces of the 2021 bull run to crypto traders and market participants. The meme coin is trending to the upside, supported by the Elon Musk Twitter takeover. The billionaire purchased the social media for over $40 billion, and the market expects Dogecoin to play a role in its future. Related Reading: THETA Shows Renewed Vigor – How Far Can The Coin Push Ahead? At the time of writing, the DOGE price stands at $0.13 for the first time since May 2022. The meme coin records a massive profit of 56% in the last 24 hours and 121% over the previous seven days. The....
Data shows Chainlink investors have been pessimistic recently, something that could actually turn out to be bullish for the cryptocurrency. Chainlink Sentiment Has Been Highly Negative Recently As pointed out by an analyst on Twitter, cryptocurrency market participants look to be bullish on LINK right now. The relevant indicator here is the on-chain analytics firm Santiment’s “Weighted Sentiment,” which tells us about the general sentiment around a given coin. This metric is based on two other indicators: the Sentiment Score and the Social Volume. The former measures....