Dogecoin (DOGE) is among the leading crypto assets facing increasing negative sentiment. The latest analysis on social sentiment shows sentiment towards various cryptocurrencies. Here are the details…
Santiment: Keep an eye on DOGE, BNB, LINK
On-chain data and social sentiment analytics platform Santiment Feed pointed to Dogecoin in a tweet on Friday. He said DOGE is facing increasing levels of fear, uncertainty and suspicion (FUD). He stated that the popular meme coin may be gearing up for “exit”. Santiment’s tweet included the following statements:
Most crypto assets are currently seeing great negativity from the trading community. But keep an eye on BTC, BNB, DOGE and LINK. These major coins are showing particularly high levels of FUD that could lead to eventual breakouts.
https://twitter.com/santimentfeed/status/1573370836857548800
It is worth noting that DOGE is no stranger to making unexpected rallies, while maintaining the support of important names, especially Tesla CEO Elon Musk. As we reported as Kriptokoin.com, the token rose by $ 0.73 in May last year. And based on nothing more than the hype of evangelists like Musk and Mark Cuban.
Developments in the Dogecoin ecosystem and price
In particular, Dogecoin users will soon be able to access Ethereum smart contracts. In August, we reported that the Ethereum to Dogecoin bridge has entered the final stages of development and is expected to launch later this year. It is currently listed as the second largest proof-of-work (PoW) network. In addition, DOGE received more attention from whales last week. Specifically, during the period, the Doge attracted six new whales, which had accumulated a total of 620 million DOGE.
Dogecoin is showing an increase of 8.4 percent in the last 24 hours. DOGE is changing hands at $0.065529. With a market cap of $5.6 billion, meme coin ranks tenth among other cryptocurrencies. DOGE’s increase in the last 7 days is also close to the increase in the last 24 hours: 8.5 percent. Time will tell how the cryptocurrency will move in the markets in the long run.
However, it seems that the support of names such as Musk and Cuban is not enough for the coin to break the record. The cryptocurrency had broken its all-time high (ATH) on May 8, 2021. DOGE made history by going up to $0.73. It is currently trading at a level 91 percent below that record level.
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