{"id":520011,"date":"2023-02-17T11:05:16","date_gmt":"2023-02-17T11:05:16","guid":{"rendered":"https:\/\/ktsl888.com\/?p=520011"},"modified":"2023-02-17T11:05:16","modified_gmt":"2023-02-17T11:05:16","slug":"dogecoin-down-3-metric-signaled-decline-advance","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/dogecoin\/dogecoin-down-3-metric-signaled-decline-advance\/","title":{"rendered":"Dogecoin Down 3%, Here’s The Metric That Signaled This Decline In Advance"},"content":{"rendered":"
Dogecoin has declined around 3% in the past 24 hours following a pattern formation that has often signaled tops in the past.<\/p>\n
As per data from the on-chain analytics firm Santiment<\/a>, euphoria has historically led to price tops in the cryptocurrency. A relevant indicator here is the “social volume,” which measures the total number of text documents that contain a given search term (which, in this case, is Dogecoin) at least once.<\/p>\n The text documents here include social media posts like tweets, telegram messages, Reddit posts, and other forum-related text pieces. A key feature of the social volume metric is that it doesn’t count these documents based on the number of times they mention the search term, but by if they do it even once.<\/p>\n For example, if a tweet mentions Dogecoin once, while a Reddit post mentions the meme coin five times, the indicator will still count both of them as 1 document each (meaning that the total social volume here would be 2).<\/p>\n Now, here is a chart that shows the trend in the social volume for DOGE over the last few months:<\/p>\n <\/p>\n As displayed in the above graph, the Dogecoin social volume (in green) has seen a sharp spike during the past couple of days, showing that discussion around the meme coin has been at pretty high levels recently.<\/p>\n The chart also shows data for another indicator, called the “weighted sentiment<\/a>,” which first measures the general sentiment in the market around the cryptocurrency, and then weighs it against the social volume.<\/p>\n This metric quantifies the sentiment by going through the earlier mentioned social text documents and checking whether users are talking positively or negatively about the meme coin, using a machine learning model.<\/p>\nLooks like the value of the metric has been high in recent days | Source: Ali on Twitter<\/a><\/pre>\n