Dogecoin Sentiment Hits Yearly Low as Whales Accumulate 1.7 Billion DOGE
Dogecoin's sentiment has reached its lowest point in over a year, with a current Weighted Sentiment of approximately -0.93. This indicates overwhelming bearishness among investors.
Key Points
- Social Volume for Dogecoin is around 200 mentions, significantly lower than the spikes above 3,000 seen from November to December.
- Dogecoin's price dropped 20% recently, falling from $0.22 to $0.17.
- Whale addresses acquired 1.7 billion DOGE (approximately $298 million) in the past 72 hours.
- A potential ETF approval could catalyze a price increase, with targets set at $0.20 and $0.50.
- Immediate support is noted between $0.17–$0.18, with a psychological pivot point at $0.20.
The negative sentiment suggests volatility within meme cryptocurrencies, but analysts speculate that the current conditions may signal a rebound opportunity.
Current DOGE price is $0.16.
