{"id":537321,"date":"2023-06-10T09:14:03","date_gmt":"2023-06-10T09:14:03","guid":{"rendered":"https:\/\/ktsl888.com\/?p=537321"},"modified":"2023-06-10T09:29:35","modified_gmt":"2023-06-10T09:29:35","slug":"dogecoin-experiences-bleak-social-sentiment","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/dogecoin-experiences-bleak-social-sentiment\/","title":{"rendered":"Bleak Dogecoin (DOGE) Social Sentiment Raises Questions About Price Reversal"},"content":{"rendered":"

Dogecoin (DOGE) has recently found itself at the center of a storm caused by the US Securities and Exchange Commission’s (SEC) lawsuit against major exchanges Binance and Coinbase. As media outlets spread fear, uncertainty, and doubt regarding the legal proceedings, the market capitalization of this meme coin has experienced a significant drop.<\/span><\/p>\n

However, despite the turbulence, on-chain data reveals that the long-term loyalists of the Dogecoin community remain resolute in their support.<\/span><\/p>\n

In the face of the dwindling media mentions and the calming of the storm, a compelling question arises: could this be the opportune moment for bullish investors to seize the dip and spur yet another impressive price rebound for DOGE?<\/span><\/p>\n

Related Reading: Cardano (ADA) Faces Obstacles In Reaching Key Level In June \u2013 Here\u2019s Why<\/a><\/div>\n

Dogecoin (DOGE) Holders Show Resilience Amidst Market Turbulence<\/strong><\/h2>\n

According to detailed on-chain analysis, it appears that the recent sell-offs and price drops in DOGE were primarily driven by short-term traders rather than committed long-term holders. A comprehensive Santiment chart illustrates this phenomenon, showcasing a notable increase in Mean Coin Age within the Dogecoin ecosystem during the same period when massive sell-offs occurred.<\/span><\/p>\n

\"\"<\/p>\n

DOGE Mean Coin Age. Source: Santiment<\/pre>\n
Examining the data between June 1 and June 9, the <\/span>Mean Coin Age for DOGE<\/span><\/a> has experienced a 5% increase, rising from 54,317 to 57,219. This upward trend in Mean Coin Age during a period of price retracement serves as a promising signal, indicating growing confidence among long-term DOGE holders.<\/span><\/p>\n
Remarkably, approximately 70% of the total circulating Dogecoin supply is currently held by steadfast long-term investors who have held their positions for more than a year. With such a significant portion of DOGE in the hands of committed holders, it follows logically that if they continue to hold onto their coins, the price of DOGE is likely to rebound in the near future.<\/span><\/p>\n
DOGE Social Volume Down: Potential Opportunity For Bullish Investors?<\/strong><\/h2>\n
Over a span of just four days, from June 5 to June 9, the <\/span>Social Volume of DOGE<\/span><\/a> has witnessed a staggering decline of 72%, plummeting from 8,219 mentions to 2,308. <\/span><\/p>\n
Santiment’s Social Volume metric serves as a reliable indicator of market sentiment by tracking the frequency of a project’s mentions across various channels, including Twitter and relevant crypto-media platforms.<\/span><\/p>\n
\"\"<\/p>\n
DOGE Social Volume. Source: Santiment<\/pre>\n
When Social Volume experiences a substantial decrease like the one observed above, it signifies that many stakeholders are currently overlooking the asset. <\/span><\/p>\n
This situation presents an opportunity for strategic investors seeking to capitalize on market bottoms. It is common for bullish investors to strategically enter the market when sentiment hits a new low, aiming to purchase assets at their lowest possible value.<\/span><\/p>\n
\n
$doge<\/a> is like \ud83d\ude80\ud83d\ude80\ud83d\ude80\ud83d\ude80\ud83d\ude80 today , a little promising and defying the gravity pic.twitter.com\/zHNj0BvHcU<\/a><\/p>\n
\u2014 THOMAS (@thomasnegeri) June 9, 2023<\/a><\/p><\/blockquote>\n
Interpreting this drop in Social Volume as a potential turning point for the DOGE price dip, optimistic investors may consider this as an encouraging signal. If this bullish outlook materializes, the crypto community believes that <\/span>DOGE will regain its upward momentum<\/span><\/a> and ascend the charts once again in the days to come.<\/span><\/p>\n
\"\"<\/p>\n
Source: Coingecko<\/pre>\n
As of now, <\/span>CoinGecko<\/span><\/a> reports the current price of DOGE at $0.060480, down 11.3% in the past 24 hours. The cryptocurrency has likewise experienced a decline of 16.7% over the course of the last seven days.<\/span><\/p>\n
Featured image from Getty Images<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Dogecoin (DOGE) has recently found itself at the center of a storm caused by the US Securities and Exchange Commission’s (SEC) lawsuit against major exchanges Binance and Coinbase. As media outlets spread fear, uncertainty, and doubt regarding the legal proceedings, the market capitalization of this meme coin has experienced a significant drop. However, despite the turbulence, on-chain data reveals that the long-term loyalists of the Dogecoin community remain resolute in their support. In the face of the dwindling media mentions and the calming of the storm, a compelling question arises: could this be the opportune moment for bullish investors to seize the dip and spur yet another impressive price rebound for DOGE? Related Reading: Cardano (ADA) Faces Obstacles In Reaching Key Level In June \u2013 Here\u2019s Why Dogecoin (DOGE) Holders Show Resilience Amidst Market Turbulence According to detailed on-chain analysis, it appears that the recent sell-offs and price drops in DOGE were primarily driven by short-term traders rather than committed long-term holders. A comprehensive Santiment chart illustrates this phenomenon, showcasing a notable increase in Mean Coin Age within the Dogecoin ecosystem during the same period when massive sell-offs occurred. DOGE Mean Coin Age. Source: Santiment Examining the data between June 1 and June 9, the Mean Coin Age for DOGE has experienced a 5% increase, rising from 54,317 to 57,219. This upward trend in Mean Coin Age during a period of price retracement serves as a promising signal, indicating growing confidence among long-term DOGE holders. Remarkably, approximately 70% of the total circulating Dogecoin supply is currently held by steadfast long-term investors who have held their positions for more than a year. With such a significant portion of DOGE in the hands of committed holders, it follows logically that if they continue to hold onto their coins, the price of DOGE is likely to rebound in the near future. DOGE Social Volume Down: Potential Opportunity For Bullish Investors? Over a span of just four days, from June 5 to June 9, the Social Volume of DOGE has witnessed a staggering decline of 72%, plummeting from 8,219 mentions to 2,308. Santiment’s Social Volume metric serves as a reliable indicator of market sentiment by tracking the frequency of a project’s mentions across various channels, including Twitter and relevant crypto-media platforms. DOGE Social Volume. Source: Santiment When Social Volume experiences a substantial decrease like the one observed above, it signifies that many stakeholders are currently overlooking the asset. This situation presents an opportunity for strategic investors seeking to capitalize on market bottoms. It is common for bullish investors to strategically enter the market when sentiment hits a new low, aiming to purchase assets at their lowest possible value. $doge is like \ud83d\ude80\ud83d\ude80\ud83d\ude80\ud83d\ude80\ud83d\ude80 today , a little promising and defying the gravity pic.twitter.com\/zHNj0BvHcU \u2014 THOMAS (@thomasnegeri) June 9, 2023 Interpreting this drop in Social Volume as a potential turning point for the DOGE price dip, optimistic investors may consider this as an encouraging signal. If this bullish outlook materializes, the crypto community believes that DOGE will regain its upward momentum and ascend the charts once again in the days to come. Source: Coingecko As of now, CoinGecko reports the current price of DOGE at $0.060480, down 11.3% in the past 24 hours. The cryptocurrency has likewise experienced a decline of 16.7% over the course of the last seven days. Featured image from Getty Images<\/p>\n","protected":false},"author":557,"featured_media":537327,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1144,85675,7,8686,83767,4735],"class_list":["post-537321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btcusd","tag-doge-price","tag-dogecoin","tag-ethusd","tag-meme-coins","tag-price-action"],"acf":[],"yoast_head":"\nBleak Dogecoin Social Sentiment Raises Questions About Price<\/title>\n<meta name=\"description\" content=\"Dogecoin (DOGE) has recently found itself at the center of a storm caused by the US Securities and Exchange Commission's (SEC) lawsuit against major\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Encila","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","caption":"Christian Encila"},"description":"They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bleak Dogecoin (DOGE) Social Sentiment Raises Questions About Price Reversal","url":"http:\/\/ktsl888.com\/news\/dogecoin-experiences-bleak-social-sentiment\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/dogecoin-experiences-bleak-social-sentiment\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/a-39.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/a-39.png?fit=701%2C464"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["btcusd","doge price","dogecoin","ethusd","meme coins","price action"],"dateCreated":"2023-06-10T09:14:03Z","datePublished":"2023-06-10T09:14:03Z","dateModified":"2023-06-10T09:29:35Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bleak Dogecoin (DOGE) Social Sentiment Raises Questions About Price Reversal\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/dogecoin-experiences-bleak-social-sentiment\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/dogecoin-experiences-bleak-social-sentiment\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/a-39.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/a-39.png?fit=701%2C464\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"btcusd\",\"doge price\",\"dogecoin\",\"ethusd\",\"meme coins\",\"price action\"],\"dateCreated\":\"2023-06-10T09:14:03Z\",\"datePublished\":\"2023-06-10T09:14:03Z\",\"dateModified\":\"2023-06-10T09:29:35Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/a-39.png?fit=701%2C464","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/537321"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=537321"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/537321\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/537327"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=537321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=537321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=537321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}