Dogecoin Sentiment Nears Lowest In A Year, Signaling A ‘’Daring Contrarian’’ Opportunity
Sentiment toward meme coin titan Dogecoin (DOGE) is close to its lowest point in a year and that may signal significant upside potential if the crypto market trends back up, said on-chain intelligence firm Santiment “Crowd sentiment has been near its lowest point over the past year, meaning there is actually some nice upside to be a daring contrarian toward DOGE (in particular) if crypto markets begin to trend upward again,” Santiment said in a Jan. 9 crypto markets insight report . Trader Says Dogecoin Is Forming A “Selling Climax Bottom” Since reaching a top 1 month ago, Dogecoin has shed approximately 28% of its value, according to Santiment. Sentiment around the largest meme coin by market cap is also currently bearish, with Santiment rating crowd sentiment for Dogecoin just 1 out of 5. However, there might be a bullish change in DOGE’s trend soon, according to a popular trader and analyst who goes by the X username “Trader Tardigrade....