Dogecoin, one of the most popular cryptocurrencies and the first meme coin, has experienced a crash in social sentiment and market cap in recent weeks. According to a new report by crypto analytics firm Santiment, the public’s attention on DOGE is dwindling, driven by its 26% drop in value since its price high one month ago. Despite this bearish trend, Santiment analysts believe that this decline in sentiment could be a good sign for Dogecoin’s future growth. 

Dogecoin Sentiment Hits New Low

Dogecoin has struggled to reclaim past previous highs following its brief surge in November 2024. Interestingly, the meme coin also saw a slight uptick at the start of the year when Elon Musk temporarily changed his X social media profile name to ”Kekius Maximus,” a new frog-themed meme coin. 

After Musk’s sudden name change, Dogecoin experienced a sharp price surge, but it was short-lived. The meme coin eventually erased 28% of its market capitalization while experiencing a dramatic decline in social media activity and general public interest. 

According to Santiment crypto analyst Brainq, Dogecoin’s crowd sentiment is at its lowest point over the past year. The analyst rates Dogecoin’s crowd sentiment at just 1 out of 5, signaling a lack of enthusiasm and engagement from investors and traders. Dogecoin’s social sentiment results also contrast significantly with the more opti

Go to Source to See Full Article
Author: Scott Matherson