Wednesday, November 30, 2022
HomeCrypto NewsMarketDogecoin May Set For A Breakout, Says Santiment

Dogecoin May Set For A Breakout, Says Santiment

- Advertisement -
Follow-Us-On-Google-News

 

Dogecoin is among the leading crypto assets faced with increasingly negative sentiment.



On-chain and social sentiment analysis platform Santiment Feed, in a tweet on Friday, revealed that Dogecoin is facing increasing levels of fear, uncertainty, and doubt (FUD), indicating that the popular meme coin could be primed for a breakout.

“The majority of crypto assets are seeing major negativity from the trading community right now. But keep your eye on BTC, BNB, DOGE, and LINK. These top caps are showing particularly high levels of FUD that can lead to eventual breakouts,” tweeted Santiment.

 

It bears mentioning that DOGE is no stranger to making unexpected rallies, especially as it continues to retain the support of key influential figures like Tesla chief Elon Musk. The token exploded to highs of $0.73 in May last year, riding on nothing but the hype from evangelists like Musk and Mark Cuban.

Notably, Dogecoin users may soon be able to access Ethereum smart contracts. The Crypto Basic reported in August that the Dogecoin bridge with Ethereum has entered the final stages of development, with the launch expected later this year.

It is now the second largest proof-of-work (PoW) network and has received increased attention from whales in the past week. Notably, within the period, Doge attracted six new whales who accumulated over 620 million DOGE in total.

Dogecoin is trading at the $0.06549 price point, 7.32% higher in the last 24 hours, leading market gains among the top 10 crypto assets by market cap.

- Advertisement -
Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

- Advertisment -

Recent News & Articles

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.