Dogecoin Sentiment Reverts To February Low, Is DOGE Set For 200% Rally?
Release: 2024/06/01 02:09 Reading: 993
- Original author：Coingape News Media
- Original source：https://coingape.com/?p=199957
Dogecoin Exhibits Resilience Amidst Market Dip
Dogecoin (DOGE) has garnered attention amid a broader market correction, fueled by a decline in Bitcoin's price. Renowned market analyst Ali Martinez suggests a potential surge in DOGE's value based on historical patterns.
Dogecoin's Unusual Rebound Effect
Martinez's analysis, citing data from Santiment, reveals that Dogecoin's sentiment is currently bearish, similar to levels observed in early February. The Weighted Sentiment for DOGE stands at -0.828, in contrast to the over 2.1 recorded in late March.
This decline in sentiment coincides with a dip in DOGE's price. As of執筆時, DOGE is trading at $0.1578, a 4.08% loss in the past day. The token has also experienced a 4.16% decrease over the past week, and a 19% gain over the past month.
Martinez highlights that despite the current slump, Dogecoin has historically shown resilience. In early February, when the DOGE sentiment was similarly low, the token subsequently rallied by over 200%.
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