Dogecoin (DOGE): the price analysis indicates a bear sentiment

The current price analysis of Dogecoin (DOGE) considers a bear sentiment with a score of 1 out of 5, which could, however, become an investment opportunity for traders. 

Dogecoin: the price analysis of DOGE suggests a bear sentiment with investment opportunities

The beginning of 2025 seems to be very “quiet” for Dogecoin (DOGE), with the price returning today to New Year’s levels. 

At the time of writing, the top memecoin DOGE is worth $0.33 and is in a dump of -20% compared to a month ago. 

Speaking of market sentiment derived from social media, then, the analyst Santiment reported for DOGE a score of 1 out of 5, classifying it as “bear”.

Looking at the other cryptos, Bitcoin (BTC) and BNB report a neutral sentiment (3 out of 5), Ethereum (ETH) slightly bear, while Ripple (XRP) and Solana (SOL) slightly bull with a score of 4 out of 5. 

Let’s say that among the six main cryptos, excluding stablecoins, DOGE has the worst market sentiment score. It should be noted that the same Santiment analyst then stated the following:

“From its peak exactly one month ago, Dogecoin has lost -28% of its market value. The crowd sentiment has been near the lowest point of the last year, which means there is a good upside margin for being a bold contrarian towards DOGE (in particular) if the cryptocurrency markets start to bull.”

Therefore, the current “silence” and “tranquility” of DOGE could prove to be an opportunity for traders to accumulate the top memecoin, so as to benefit as soon as the crypto markets resume the bull run. 

Dogecoin: the price analysis and the growing interest in DOGE futures

Another factor to consider for conducting the price analysis for Dogecoin is the current growth of interest in futures on DOGE. 

Just yesterday, it was shown how the open interest of Dogecoin futures reached a new record, with significant transactions by the “whales”. 

The open interest is a key indicator that measures the total number of open derivative contracts, indicating greater market participation. 

In fact, it seems that the major investors have shown a renewed interest in DOGE, with transactions exceeding $100,000, which represent a significant peak and signal a strong demand for the memecoin. 

Not only that, such movements are often seen as precursors to price increases, as they indicate the accumulation of DOGE by the most influential investors in the market (the whales). 

Past performance and future forecasts

Other data that can influence the price analysis of Dogecoin (DOGE) are its past performances, the most recent ones, and future price forecasts. 

In fact, going back to early December, Dogecoin had recorded breathtaking performances, thanks to the crypto rally in November, the influence of Elon Musk, and the announcement of the new DOGE ETP. 

Such performance led the market cap of the top memecoin DOGE to surpass that of the luxury car manufacturer Porsche. At that time, the market cap of DOGE was over 63 billion dollars, compared to Porsche’s 57 billion dollars.

Today, the market cap of DOGE has dropped to 49 billion dollars, but the top memecoin remains in seventh position in the overall crypto ranking. 

Speaking of future forecasts, there are those who remain enthusiastic about the involvement of whales in DOGE futures, to the point of believing that the memecoin could reach the price of $1 by the end of 2025. According to data from Changelly, however, the price prediction of DOGE at $1 has been calculated for May 2030.