 ▲ Dogecoin (DOGE) |
Last week, Saifedean Ammous, one of the leading Bitcoin (BTC) community supporters, urged Elon Musk to adopt Bitcoin as a payment asset for X (formerly Twitter). Accordingly, the cryptocurrency community once again focused attention on the possibility of using Dogecoin (DOGE), a meme coin that Musk had long expressed his support for, as a payment asset for X.
On the other hand, Toncoin (TON), a coin created on the SNS platform Telegram, has attracted attention by rising at a double-digit rate over the past week. Currently, Dogecoin and Toncoin are ranked 8th and 9th in cryptocurrency market capitalization rankings.
What do the public think about Dogecoin and Toncoin? Let’s check it out with the big data analysis platform Some Trend.
 ▲ Source: Some Trend |
Dogecoin vs Toncoin, what is the trend in mention volume?
During the week from June 10th to June 16th, Dogecoin was mentioned 28 times and Toncoin was mentioned 2 times.
 ▲ Source: Some Trend |
 ▲ Source: Some Trend |
 ▲ Source: Some Trend |
 ▲ Source: Some Trend |
Dogecoin vs Toncoin, what are the images and key emotional words?
Dogecoin's image was confirmed to have a positive image, with 67% positive, 33% negative, and 0% neutral. Among the major emotional words, positive expressions include ‘interesting’ and ‘price fall.’ A negative expression is 'ruined', and there is no neutral expression.
Toncoin has no positive or negative sentiment words.
Major issues related to Dogecoin and Toncoin
According to BeInCrypto, a cryptocurrency media outlet, Dogecoin's MVRV (Market Value to Realized Value) is -11%, and asset accumulation is observed to be in progress. Meanwhile, Dogecoin recorded a price recovery and rally when MVRV was between -6% and -19%.
However, on-chain data platform Santiment reported that a sell signal was detected in an analysis of the number of daily active addresses for Dogecoin. Due to the current decline in Dogecoin price and the decreasing trend in the number of daily active addresses, it has been confirmed that the possibility of Dogecoin accumulation is low.
The media reported that the bearish outlook will be invalidated only when Dogecoin breaks through $0.16. If it breaks through $0.16, recovery from the recently recorded price loss appears possible.
Blockchain news platform AMB Crypto reported that the price of Toncoin has risen significantly since May 1. Toncoin continued its bullish trend, forming several highs and higher lows during the price rise.
Even as the Toncoin price recorded an upward trend, Chaikin Money Flow (CMF) was confirmed to still be high. This means that a large amount of assets are flowing into Toncoin. The relative strength index (RSI) fell significantly, but the bullish momentum appears to be continuing to some extent in that it has never fallen below 50.
Dogecoin and Toncoin, what is today’s price?
As of 4 p.m. on June 17, according to CoinMarketCap, the price of Dogecoin is $0.1336, down 2.17% from the previous day, and the price of Toncoin is $7.88, up 0.64%.
