Dogecoin (CRYPTO: DOGE) has climbed 20% over the past week, yet trader sentiment remains surprisingly pessimistic.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Dogecoin (CRYPTO: DOGE) | $0.3865 | $57 billion | +0.9% | +20.6% |
| Shiba Inu (CRYPTO: SHIB) | $0.00002406 | $14.2 billion | +1.4% | +11.4% |
| Pepe (CRYPTO: PEPE) | $0.00002069 | $8.7 billion | +0.04% | +11.7% |
Trader Notes: Crypto chart analyst Ali Martinez pointed out that Dogecoin's weighted social sentiment is at -0.60, reflecting widespread doubt about its upside potential.
Martinez suggests this bearish sentiment might actually make it "a good time to be a contrarian."
Trader Tardigrade noted that DOGE has dropped 45% from its recent peak, replicating a pattern from previous market cycles.
This, they argue, sets the stage for a strong rally with the potential to hit new all-time highs.
Statistics: Coinglass data shows a surge of 33.8% in open interest to $4.01 billion, while liquidations over the past 24 hours totaled $8.5 million, split evenly between long and short positions.
Community News: Speculation about an X Payments launch has added fuel to Dogecoin’s momentum.
MacRumors contributor Aaron noted in a Jan. 3 post that X could debut its payment system in the U.S., even without approvals from all 50 states.
Adding intrigue, a leak cited by Forbes hinted at Musk's "game-changing plan" for Bitcoin and crypto, sparking excitement over whether Dogecoin could play a pivotal role in X Payments.
Musk has previously teased Dogecoin’s potential in the platform, suggesting it might help reduce transaction costs and speed.
Read Next:
- Dogecoin, Shiba Inu Redefine Meme Coin Phenomenon That ‘Extends Beyond Mere Speculation’: Report
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