Dogecoin (DOGE) sits in the midst of leading crypto assets facing increasingly negative sentiment. The latest analysis of societal 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 anxiety, uncertainty and doubt (FUD). He stated that the recognized chest coin could be preparing for the “exit”. Santiment’s tweet included the following words:
Many of the 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, which could lead to the latest breakouts.
😠 The majority of #crypto assets are seeing major negativity from the trading community right now. But keep your eye on $BTC, $BNB, $DOGE, and $LINK. These top caps are showing particularly high levels of #FUD that can lead to eventual breakouts. https://t.co/cSUnSfn88e pic.twitter.com/MyoOavHllw
— Santiment (@santimentfeed) September 23, 2022
It’s worth noting that DOGE is no stranger to making unexpected rallies as it continues to advocate for the reinforcements of valuable names, especially Tesla CEO Elon Musk. Koindeks.com As we also reported, the token rose by $ 0.73 in May last year. And based on nothing but the hype of evangelists like Musk and Mark Cuban.
Developments in the Dogecoin ecosystem and price
In particular, Dogecoin users will soon have access to Ethereum smart contracts. In August, we reported that the Ethereum-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. Notably, during the period 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, chest 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, the reinforcement of names such as Musk and Cuban seems to be not enough for the coin to break the record. The cryptocurrency broke its all-time high (ATH) on May 8, 2021. DOGE made history by going up to $0.73. Currently, the subject of speech is progressing at a level 91 percent lower than the record level.
