Dogecoin

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Bitcoin

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/dogecoin-sentiment-reaches-new-lows-since-september-2023/" data-wpel-link="internal">Dogecoin Sentiment Reaches New Lows Since September 2023</a><br></p>
<p style="text-align: justify">Since September 2023, the weighted sentiment around <strong>Dogecoin (DOGE)</strong> has reached -1.562 on the charts. Here, weighted sentiment can be defined as the result of the average comments made on social media about a token. This situation has led to an increase in positive comments about DOGE. However, recent <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> revealed that for every 1 good comment about the cryptocurrency, there were 1.56 contrary comments.</p> 
<h2 id="negative-market-conditions-for-doge">Negative Market Conditions for DOGE</h2> 
<p style="text-align: justify">Generally, if negative sentiment dominates the <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a>, demand for the <strong><a href="https://en.coin-turk.com/bitcoin-price-surges-and-triggers-altcoin-volatility/" data-wpel-link="internal">meme token</a></strong> may decrease. However, history looks different for Dogecoin. The altcoin price rose to $0.097 in less than three months. This rise is called a “hated rally” by the meme token community. This situation can occur when a pessimistic outlook on a cryptocurrency triggers a price increase on the charts. If history repeats itself, this pattern may reappear.</p> 
<p style="text-align: justify">Additionally, if assumptions come true, <strong>DOGE’s</strong> price could reach the annual high of $0.27 before the next quarter begins. At the time of writing, the meme token’s value was at $0.16. On the other hand, data from <strong>IntoTheBlock</strong> revealed that 84% of all DOGE holders increased their gains at the aforementioned price level. For 100% of the total supply to be profitable, the meme token’s price needs to reach $0.32. This was the average price for the 755,230 addresses accumulating DOGE.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-355937 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/dogeee.jpg" alt="" width="1258" height="417"></p> 
<h2 id="btc-and-doge-correlation">BTC and DOGE Correlation</h2> 
<p style="text-align: justify">On-chain data recently revealed that Bitcoin’s price is at a good accumulation point at its current position. Based on this assumption, it might be accurate to say that <strong>DOGE</strong> is in a similar situation. Therefore, a notable increase in <strong>Bitcoin</strong> could also raise DOGE’s price. Additionally, it evaluated the meme token’s social volume. At the time of writing, this measure had dropped from 614 to 120. From a price perspective, this decline could strengthen the idea that demand might decrease. At the same time, since most participants have been uncertain about the token’s short-term performance recently, this situation could also present a buying opportunity.</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/dogecoin-sentiment-reaches-new-lows-since-september-2023/" data-wpel-link="internal">Dogecoin Sentiment Reaches New Lows Since September 2023</a></h5>

Dogecoin Sentiment Reaches New Lows Since September 2023

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