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Social sentiment about Dogecoin (DOGE) reaches new lows: Is a price shift imminent?

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Social sentiment about Dogecoin (DOGE) reaches new lows: Is a price shift imminent?

dogecoin

Briefly

  • Dogecoin (DOGE) price recovered $0.072 on Tuesday after a turbulent start to the week, but negative media sentiment has sent it back toward $0.065.
  • The rising Mean Coin Age proposes that drawn out followers in the Dogecoin people group seem to have quit offloading their coins.
  • Twitter and other relevant crypto-focused media channels have seen a 72% decrease in DOGE mentions since June 1.

After the fierce beginning to the week, Dogecoin (DOGE) cost immediately recovered $0.072 on Tuesday. Nonetheless, far reaching negative media opinion has sent it spiraling toward $0.065 indeed. Will key financial backers decipher this as a defining moment for a bigger Dogecoin cost bounce back?

Dogecoin (DOGE), the world’s biggest memecoin by market capitalization, has been massively impacted by the media FUD spread by the SEC’s claim against significant trades. The Dogecoin community’s long-term adherents appear to be staying steadfast, according to on-chain data.

With media notices of DOGE going calm, will the bulls consider this amazing luck to purchase the plunge and stage another DOGE cost bounce back mission?

 

 

 

 

 

 

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Dogecoin (DOGE) Media Mentions Drops to New Lows

Since Monday, June 5, the Dogecoin buzz in the media has been negative. The number of times a project is mentioned on Twitter and other relevant crypto-media channels is tracked by the Social Volume metric from Santiment.

The graph below shows how DOGE Social Volume decreased 72% between June 5 and June 9 from 8219 to 2308 mentions.

At the point when Social Volume patterns drop significantly, as seen above, it flags a great deal of partners are as of now neglecting the resource.

When market sentiment reaches a new low, strategic investors typically try to buy at the bottom. Investors who are bullish might interpret this as a sign that the decline in the DOGE price has reached a turning point.

DOGE is likely to climb back up the charts in the coming days if this bullish outlook holds true.

 

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