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The Dogecoin is experiencing a sharp slowdown, marked by a decline in investor interest and a decrease in activity on social media. This trend contrasts with the past euphoria that surrounded this cryptocurrency born from a simple meme. According to data from Santiment, enthusiasm for DOGE has reached a historically low level, indicating a gradual loss of market confidence. The drop in investor sentiment, combined with a significant reduction in online discussions, highlights a climate of wait-and-see where caution seems to take precedence over speculation. However, this weakening is not unanimous. Some observers see it as a typical market dip, conducive to future recovery. In their view, this lull could represent a strategic buying opportunity for investors willing to bet on a possible rebound, provided the overall market regains bullish momentum.
Growing disinterest in Dogecoin on social media
The market sentiment around Dogecoin has reached a critical point, with one of its lowest levels in a year. According to Santiment data, the cryptocurrency scores a 1/5, well below that of XRP (4/5) and Solana (4/5). This distrust is particularly evident on social media, where the volume of discussions related to DOGE has significantly decreased in recent weeks. Once buoyed by an active and engaged community, Dogecoin now seems to be losing steam, which could affect its ability to spark renewed interest in the short term.
Alongside this drop in market sentiment, the value of Dogecoin has registered a sharp decline. Within a month, its price has fallen by 28 %, currently standing at $0.33. Over the past 30 days, the crypto has reported a loss of 15.3 %, following a similar downward trend to other memecoins, such as Shiba Inu (-15.9 %) and Pepe (-22.2 %). This disinterest goes beyond active investors. Google searches related to Dogecoin have plunged by 74 % since November. Such a period coincided with the abandonment of a lawsuit filed against Elon Musk and Tesla, accused of manipulating DOGE prices through their media interventions. Without a major catalyst, the current dynamics may persist, leaving Dogecoin in a state of prolonged uncertainty.
A potential rebound for contrarian investors ?
Although enthusiasm for Dogecoin appears to be waning, some observers remain convinced of its long-term potential. For them, this stagnation phase could precede a new bullish momentum. Trader Wizz, followed by 768,700 subscribers on X (formerly Twitter), states on January 6, 2025, that “DOGE will outperform most major cryptos over the next six months.” He bases his analysis on a chart configuration similar to that observed in November 2024, a period that preceded a notable bullish rally for Dogecoin.
For his part, analyst KrissPax shares a similar view. On January 8, 2025, he publishes an analysis on X, and estimates that “the next major movement of Dogecoin will occur in 2025.” According to him, the current price consolidation mirrors past trends, suggesting a possible market recovery in the medium term.
Other experts go even further and anticipate a significant increase in DOGE by 2025. Some predict a price between $3 and $5, as they base their forecasts on the Gauss channel indicator, a technical analysis tool used to identify price cycles and long-term trends. If these predictions prove to be accurate, the current situation could represent an interesting entry point for investors looking to accumulate Dogecoin at a reduced price. However, this perspective is contingent on a return of general interest in memecoins and an overall market recovery.
The future of Dogecoin will largely depend on the return of collective enthusiasm and the evolution of the crypto market as a whole. Thus, the decline in social sentiment and the collapse of Google searches signal a marked disinterest, but DOGE’s history shows it has often rebounded after similar phases. Some investors see this as an accumulation opportunity, while others fear a slow erosion of its popularity. Everything now rests on a possible resurgence of interest, driven by major events or a return to speculation around memecoins. In this uncertain context, caution is warranted in the face of an unpredictable volatility.
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Diplômé de Sciences Po Toulouse et titulaire d’une certification consultant blockchain délivrée par Alyra, j’ai rejoint l’aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l’économie, j’ai pris l’engagement de sensibiliser et d’informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu’elle offre. Je m’efforce chaque jour de fournir une analyse objective de l’actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
