- According to data from Santiment, Dogecoin’s current decline in social media activity and bearish sentiment, signals a potential buying opportunity for contrarian traders if the crypto market recovers.
- Analysts predict that Dogecoin could surge significantly by 2025, with projections ranging from $3 to $5 based on historical patterns and technical indicators.
Dogecoin, launched on 6th December 2023, has long been hailed as a community led cryptocurrency. Over the past few weeks, according to a recent report by crypto analysis firm Santiment, Dogecoin has found itself in an unusual state of quiet. According to the report, this lull could present an enticing opportunity for daring traders.
Some analysts have suggested that with social media chatter and sentiment a yearly-low, this, could be the calm before the significant storm of price activity.
As per a 9th January report, Dogecoin expereinced a dramatic drop in crowd sentiment recording a bearish score of 1 out of 5. Comparably, this is noble drop is much lower than that of XRP which stands at 4 out 5 and Solana’s equallly robust rating.
Additionally, the decline in sentiment aligns with dwindling social media mentions and a notable decrease in search interest for Dogecoin, as Google search trends have dropped nearly 74% since November 2024.
Despite the unfavourable metrics from the firm, Santiment believes this downturn holds the potential upside for those willing to take a contrarian stance.
“Crypto’s top memecoin has been extremely quiet outside of a temporary run-up at the beginning of the year,” the firm noted. Additionally, it added that this subdued phase could pave the way for a “nice upside” if broader crypto markets regain momentum.
Dogecoin’s Performance Mirrors Market Trends
At the time of writing, Dogecoin’s native token is swapping hands with $0.3368 marking a 1.27% surge in the past 24 hours. Additionally, the digital asset has recorded declines of 2.42% and 16.98% in the past week and month respectively.
Further looking into the assets market participation, DOGE’s market cap has recorded a1.23% surge stopping at $49.47B.
Nevertheless, some traders remain optimistic. Pseudonymous crypto trader Wizz predicted Dogecoin will outperform many major cryptocurrencies in the next three to six months. Another analyst, KrissPax, noted similarities between Dogecoin’s current price consolidation and its 2024 patterns, suggesting a major rally could be on the horizon.
Dogecoin price action is very similar to one year ago. In November 2023, $DOGE traded up, then dropped and consolidated before a major move up in 2024. In November 2024, Doge traded up higher, then dropped and is now consolidating. Next is a major move up in 2025. pic.twitter.com/QvMPxh7Bbw
— KrissPax (@krisspax) January 8, 2025
Long-Term Predictions: A 2025 Surge?
Looking ahead, traders and analysts are increasingly bullish on Dogecoin’s potential in 2025. According to the Gaussian Channel indicator, Dogecoin could climb to between $3 and $5 as it capitalizes on a strong market resurgence. This projection aligns with growing institutional interest, such as predictions by Galaxy Digital of a $1 DOGE, fueled by whale accumulation.
While Dogecoin’s current quiet phase reflects market-wide uncertainty, it may also be a strategic accumulation period for savvy investors. If the analysts’ forecasts hold true, this “calm before the storm” could evolve into one of Dogecoin’s most remarkable comebacks.
