Shiba

Bitcoin

Dogecoin

Shiba Inu

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/dogecoins-social-dominance-and-price-prospects/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Dogecoin’s Social Dominance and Price Prospects</a><br></p>
<p style="text-align: justify">Memecoins, among them <strong><a href="https://coin-turk.com/hedef-surasi-dogecoin-doge-guncel-grafik-yorum" data-wpel-link="internal" rel="noopener noreferrer nofollow">Dogecoin</a></strong> (<a href="https://coin-turk.com/lider-meme-coinden-yukselis-girisimleri-dogecoin-doge-metriklerinde-ilgi-cekici-sinyal" data-wpel-link="internal" rel="noopener noreferrer nofollow">DOGE</a>), have hosted significant increases over the past few days. However, <a href="https://en.coin-turk.com/dogecoin-soars-with-a-20-surge-in-value/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Dogecoin</a> had one of the lowest increases within this group. Yet, AMBCrypto found that other cryptocurrencies could not match Dogecoin’s social dominance.</p>
<h2 style="text-align: justify" id="doge-s-social-outlook">DOGE’s Social Outlook</h2>
<p style="text-align: justify">Social dominance reveals the share of discussions about a project compared to its top 100 competitors. According to Santiment’s onchain data, this metric was calculated as 2.32% for <a href="https://en.coin-turk.com/dogecoin-doge-price-prediction-and-analysis-what-to-expect/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DOGE</a>.</p>
<p style="text-align: justify">Looking at <strong>BONK</strong>, one of the notable meme coins of recent days, this rate appeared much lower at 0.33%. Alongside BONK, <strong><a href="https://en.coin-turk.com/shiba-coin-shib-faces-major-disappointment-shibarium-fails-to-sustain-user-interest/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba</a> Inu</strong> (SHIB) also fell short of reaching Dogecoin’s level of social interest.</p>
<p style="text-align: justify"><img loading="lazy" decoding="async" loading="lazy" class="aligncenter size-full wp-image-321892" src="https://coin-turk.com/wp-content/uploads/2024/03/bonk-dogecoin-coin-turk-com.jpg" alt="" width="705" height="240"></p>
<h2 style="text-align: justify" id="doge-s-leadership-struggle">DOGE’s Leadership Struggle</h2>
<p style="text-align: justify">One of the events leading to DOGE’s resurgence as a trend was the recent price increase. Alongside the price rise of <a href="https://coin-turk.com/kripto-uzmanlari-acikladi-bitcoin-btc-2023-yilinda-kac-dolari-gorecek" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> over the last seven days, DOGE also saw a 44.15% increase in value. This notable price performance has left investors contemplating holding DOGE in this bull market.</p>
<p style="text-align: justify">Moreover, Dogecoin surpassed significant levels during the same timeframe. For instance, DOGE’s market value reached 17.5 billion dollars for the first time in a long while. Additionally, the cryptocurrency’s Open Interest rate also surpassed the 1 billion dollar mark.</p>
<p style="text-align: justify">This increase in Open Interest could mean that traders are actively taking positions to capitalize on price movements. However, DOGE’s price has declined in the last 24 hours, which could suggest that Open Interest may not increase further.</p>
<p style="text-align: justify">On the other hand, the increase in DOGE’s social dominance might indicate that changes could be afoot. If DOGE’s dominance continues to rise, market participants might turn their thoughts into action, potentially increasing demand for DOGE and driving the price up again.</p>
<h2 style="text-align: justify" id="a-recovery-may-be-near">A Recovery May Be Near</h2>
<p style="text-align: justify">According to the technical outlook, a 4-hour chart review of DOGE shows investors have been profiting. One of the reasons cited was the drop in the Accumulation/Distribution (A/D) line. The decline indicates that distribution has been greater than accumulation in the last 24 hours.</p>
<p style="text-align: justify"><img loading="lazy" decoding="async" loading="lazy" class="aligncenter size-full wp-image-321893" src="https://coin-turk.com/wp-content/uploads/2024/03/doge-24-saat-coin-turk-com.jpg" alt="" width="700" height="422"></p>
<p style="text-align: justify">If the A/D line continues to fall, DOGE’s price might follow suit. A potential selling pressure could push DOGE down to 0.10 dollars, where, according to the Supertrend indicator, a buying opportunity could emerge. A recovery at the 0.10 level could bring the cryptocurrency close to 0.14 dollars.</p>
<p style="text-align: justify">Dogecoin’s trading volume also reached an incredible level on February 29, rising to 6 billion dollars. However, as of the time of writing, it has clearly decreased. This drop in volume and price suggests that the price may fluctuate in the upcoming period.</p>
<p style="text-align: justify">If the process continues this way, it could pave the way for DOGE’s price to move upward. Whether DOGE will outperform other meme coins after this period is unknown, but given its current position, this possibility will always remain.</p>
<p style="text-align: justify"><img loading="lazy" decoding="async" loading="lazy" class="size-full wp-image-321894 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/doge-santiment-coin-turk-com.jpg" alt="" width="704" height="238"></p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/dogecoins-social-dominance-and-price-prospects/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Dogecoin’s Social Dominance and Price Prospects</a></h5>

Dogecoin’s Social Dominance and Price Prospects

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