doge

Dogecoin Jumps 20%, But Social Media Still Bearish: Green Signal For Rally?

Published

2 days ago

January 7, 2025

Dogecoin has made some notable recovery during the past week, but social media users have remained bearish. Here’s why this could be good for the rally.

Dogecoin Weighted Sentiment Has Remained Negative Recently

As pointed out by analyst Ali Martinez in a new post on X, the Dogecoin Weighted Sentiment still has a red value. The “Weighted Sentiment” here refers to an indicator from the analytics firm Santiment that tells us about the dominant sentiment related to a given asset that’s present on the major social media platforms.

This metric is based on two other indicators: Sentiment Balance and Social Volume. The first of these, the Sentiment Balance, calculates the net sentiment present on social media.

It works by putting the various posts/messages/threads through a machine-learning model to differentiate between positive and negative posts. Then, it takes the two counts and subtracts them to determine the net market situation.

While the Sentiment Balance does provide a rough overview of social media, it may not always be the best representation of the majority of the users, as all it can do is take into account the data of the posts currently present. That is, it only says about the sentiment of the active users, regardless of whether they are actually a minority by count.

To mitigate this problem and achieve more accuracy, the Weighted Sentiment incorporates the second element: the Social Volume. This indicator measures the total unique number of posts on social media that mention the cryptocurrency.

Thus, by weighting the Sentiment Balance by this metric, the Weighted Sentiment ensures that its value only registers a spike (in either direction) when there is both a significant tendency towards one sentiment and a large number of users voicing said sentiment.

Now, here is the chart for the Weighted Sentiment for Dogecoin shared by the analyst that shows the trend in its value over the past few months:

Dogecoin Weighted Sentiment

As displayed in the above graph, the Dogecoin Weighted Sentiment turned negative in December as the meme coin’s bull rally hit an obstacle, and its price reversed to the downside.

The negative sentiment hasn’t changed in 2025 so far, but interestingly, the trend in the price has. Over the past week, the asset has seen a recovery rally of more than 20%. The continued bearish sentiment would imply this run hasn’t been enough to change the opinion of social media users yet.

Historically, digital assets have tended to move in a way that’s opposite to the expectations of the majority. From the chart, it’s apparent that Dogecoin’s tops in November were accompanied by sharp positive spikes in the Weighted Sentiment.

Therefore, considering that the traders are pessimistic towards DOGE right now, chances may be that this latest rally could have further room to run before encountering a wall.

DOGE Price

Following its recovery during the last few days, Dogecoin has seen its value climb to the $387 mark.

Dogecoin Price Chart

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ADA

XRP Flashing Bullish Signal That Previously Triggered 470% Upside Burst, According to Analyst Ali Martinez

Published

2 hours ago

January 9, 2025

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A closely followed crypto strategist says XRP is giving off the same bullish signal it flashed late last year before triggering a parabolic surge.

Analyst Ali Martinez tells his 110,100 followers on the social media platform X that XRP may be gearing up for a new leg up based on its SuperTrend indicator.

The SuperTrend indicator is a technical analysis tool that aims to identify potential entry and exit points based on an asset’s trend.

Says Martinez,

“The last time the SuperTrend indicator flipped bullish on the 12-hour chart, XRP went up 470%… It just flipped bullish again.”

At time of writing, XRP is trading for $2.28.

Turning to Cardano, the trader thinks that ADA looks poised for a big rally after breaking out from a bullish continuation pattern on the daily chart.

“Cardano ADA is breaking out of a bull pennant, targeting $3!”

At time of writing, ADA is worth $0.99.

Next up is the top memecoin Dogecoin (DOGE), which the trader says is being gobbled up by deep-pocketed investors.

“Whales bought 140 million Dogecoin DOGE in [24 hours]!”

Martinez also notes that traders are currently bearish on Dogecoin, suggesting that the meme token may be primed to go against the crowd.

“Dogecoin DOGE weighted social sentiment is at -0.60, which means the crowd remains very pessimistic about its upside potential. This might be a good time to be a contrarian!”

At time of writing, DOGE is trading at $0.35.

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doge

70 Million DOGE Make Their Way To Binance Amid 10% Dogecoin Price Crash

Published

6 hours ago

January 8, 2025

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Este artículo también está disponible en español.

Whale Alert, a prominent crypto and blockchain tracking platform, has spotted a massive DOGE deposit amid the Dogecoin price crash. This enormous deposit, involving over 70 million DOGE tokens, was moved by an anonymous whale to Binance, the world’s largest crypto exchange. Moreover, the lofty Dogecoin transaction comes on the heels of a recent10% price crash in the meme coin.

Whales Move Over 70 Million Dogecoin To Binance

The recent Dogecoin price crash may have triggered fear among investors, as DOGE whales are suddenly selling off their holdings. With analysts and traders expressing hopes of an imminent Dogecoin price breakout, many are voicing frustration and concern over the ongoing DOGE sell-offs, fearing further delays in the market’s momentum.

Notably, Whale Alert spotted a substantial Dogecoin transfer on January 7. The cryptocurrency tracker reported that approximately 70,081,124 DOGE tokens were moved by an anonymous whale to Binance. This massive deposit, worth over $27.6 million, has caught the attention of the crypto market, as most large-scale whale transactions often do.

Typically, when an asset is transferred from a wallet to a crypto exchange, it indicates the potential for a sell-off. This is because investors often move their holdings to crypto platforms like Binance when they plan to liquidate their positions.

The recent 70 million DOGE transfer is a large-scale market movement that could lead to increased volatility, potentially triggering more downturn for Dogecoin. At the time of writing, CoinMarketCap’s data shows that the Dogecoin price has declined by more than 11.2% in the past 24 hours. Considering the meme coin’s susceptibility to slight changes in market trends, additional sell-offs could exacerbate fears of further declines, potentially placing even more downward pressure on Dogecoin.

Notably, crypto analyst Ali Martinez has reported on X (formerly Twitter) that Dogecoin’s TD sequential is presenting a sell signal on its daily chart. Given this development, Martinez states that a Dogecoin price correction should be expected, as widespread liquidations often lead to a downtrend.

Analyst Cautions Against Selling DOGE

After breaking out of this Ascending Triangle, Dogecoin appears to have returned to the apex, testing it as a new support zone and aiming to bounce off this level to continue its upward trend. Crypto analyst Trader Tardigrade shared a chart on X, highlighting that the apex of the Ascending Triangle could serve as a launchpad for a Dogecoin price rally, with the potential to reach a new ATH of $0.95.

Consequently, Dogecoin investors are being urged to stay on course as the meme coin undergoes this critical phase in its price action. Trader Tardigrade has emphasized that now is not the time to sell off prematurely or short DOGE, as doing so could result in missing the projected price surge to a new ATH.

Dogecoin price chart from Tradingview.com — DOGE price holding above $0.34 | Source: DOGEUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

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Dogecoin ‘Looks Undeniably Impulsive’ – DOGE/BTC Ratio Uncovers Strong Accumulation

Published

3 days ago

January 5, 2025

admin

Este artículo también está disponible en español.

Dogecoin has kicked off the new year with an impressive 29% rally from local demand levels, captivating investors and signaling its resilience in the crypto market. The meme coin leader is now testing critical resistance around the $0.40 mark, a level that could determine its next move.

Top analyst Bluntz recently shared an insightful analysis, emphasizing that Dogecoin appears to be in a strategic accumulation period. According to Bluntz, this phase is setting the foundation for an aggressive surge later in the cycle, potentially positioning DOGE for significant gains. Such accumulation periods are often precursors to explosive upward movements, especially for assets with strong community backing like Dogecoin.

The coming days will be pivotal for DOGE as it battles to break above the $0.40 resistance level. A successful breakout could ignite a bullish rally, reinforcing Dogecoin’s position as a market favorite. However, failure to clear this zone might result in short-term consolidation, delaying the anticipated surge.

Dogecoin Devising A Rally

Dogecoin has displayed strong bullish price action since early November, defying market volatility and capturing the attention of investors. Even with its recent correction, the price has managed to recover, showing growth that underscores its potential for further upside.

Bluntz recently shared a technical analysis on X, highlighting the accumulation phase in the DOGE/BTC ratio. According to Bluntz, the ratio is “still accumulating,” suggesting that Dogecoin is preparing for a significant rally in this cycle. Bluntz confidently stated that there is “no chance” DOGE won’t surge during this bull run, reflecting the analyst’s optimistic outlook on the meme coin leader.

DOGE/BTC Ratio 1 Week Chart | Source: Bluntz on X

While Dogecoin’s trajectory looks promising, it’s essential to recognize the associated risks. Volatility remains a hallmark of cryptocurrency markets, and Dogecoin is no exception. The broader economic landscape adds another layer of uncertainty, with rising interest rates, inflation, and global economic pressures influencing investor sentiment. These factors could contribute to periods of sharp price fluctuations for DOGE.

For long-term investors, Dogecoin’s ongoing accumulation phase may present an opportunity to enter the market ahead of a potential breakout. However, risk management and a cautious approach are vital, especially given the unpredictable nature of both the crypto market and the global economy. If Dogecoin manages to clear key resistance levels, it could validate Bluntz’s bullish thesis and solidify its status as a top performer in this cycle.

Price In Consolidation

Dogecoin is currently trading at $0.38 after encountering resistance at the $0.40 mark. This level has temporarily halted DOGE’s upward momentum, placing the price in a consolidation phase. Such periods of sideways trading are not uncommon and could last for several days or even weeks as the market gathers strength for the next move.

Dogecoin testing crucial liquidity | Source: DOGEUSDT chart on TradingView

Despite the pause, optimism remains high among investors and analysts. The $0.43 mark is emerging as a critical resistance level for DOGE. A clean breakout above this level would signify renewed bullish momentum, potentially propelling Dogecoin to multi-year highs or even new all-time highs. Achieving this would likely draw fresh attention from both retail and institutional investors, further bolstering its upward trajectory.

However, the path forward is not without its challenges. Market sentiment and broader crypto trends will play a significant role in determining whether Dogecoin can muster the strength to push higher. If the consolidation phase is accompanied by increased trading volume and strong buying support, the breakout scenario becomes increasingly likely.

Featured image from Dall-E, chart from TradingView

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