Here is the English translation:
The decline in social media posts and the general sentiment around Dogecoin may be a buying opportunity for traders, according to cryptocurrency analysis firm Santiment.
"Crowd sentiment has nearly bottomed out over the past year," Santiment said in a report on January 9.
The analysis firm has rated Dogecoin (DOGE) with a crowd sentiment score of 1 out of 5, significantly lower than the score of 4 out of 5 for XRP (XRP) and Solana (SOL).
Opportunity for DOGE price increase during the 'extremely quiet' period
Furthermore, Santiment believes there is potential for a "beautiful breakout" for those who "dare to go against" Dogecoin if the cryptocurrency market starts to recover.
The top memecoins have been extremely quiet, except for the previous run-up earlier this year (coinciding with Elon Musk's rapid transformation into 'Kekius Maximus'). Since the peak exactly one month ago, Dogecoin has decreased -28% in market capitalization.
At the time of publication, Dogecoin is trading at $0.34, down 15.33% over the past 30 days, according to CoinMarketCap.
Other top 100 memecoins have also seen similar declines during the same period. Shiba Inu (SHIB), the 16th largest cryptocurrency by market capitalization, decreased by 15.92%, while Pepe (PEPE) dropped by 22.17%.
Dogecoin is trading at $0.3406 at the time of publication. Source: CoinMarketCap
Although there is currently not much attention on social media, some traders believe that Dogecoin could be one of the top cryptocurrencies of 2025.
Traders expect Dogecoin to see strong growth in 2025
Anonymous cryptocurrency trader Wizz told his 768,700 X followers on January 6 that Doge will outperform most major cryptocurrencies in the next 3 to 6 months.
Cryptocurrency trader KrissPax said to his 63,700 X followers on January 9 that Dogecoin's price action is similar to a year ago.
"In November 2024, Doge was trading higher, then pulled back and is now in a consolidation range. Next up is a big move in 2025," KrissPax said.
Other analysts believe Dogecoin is expected to reach $3 to $5 by 2025, based on the Gaussian Channel indicator that allows traders to identify the upper and lower channels of price action based on the asset's distribution principles.
Meanwhile, Google searches for "Dogecoin" have declined by nearly 74% since the week after Donald Trump's victory in the US presidential election on November 5.
That week, a class-action lawsuit against Elon Musk and Tesla — accusing the entrepreneur of manipulating Dogecoin's price through media appearances and social media posts — was dismissed by the plaintiffs on November 14, 2024.
According to Google data, searches for "Dogecoin" on January 4 in the past seven days reached 26, down nearly 74 points from the level of 100 on November 16.Compiled by Bitcoin News
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
The decline in social media posts and the general sentiment around Dogecoin may be a buying opportunity for traders, according to cryptocurrency analysis firm Santiment.
"Crowd sentiment has nearly bottomed out over the past year," Santiment said in a report on January 9.
The analysis firm has rated Dogecoin (DOGE) with a crowd sentiment score of 1 out of 5, significantly lower than the score of 4 out of 5 for XRP (XRP) and Solana (SOL).
