Dogecoin's recent 20% recovery hasn't swayed the bearish sentiment on social media platforms. Analyst Ali Martinez highlights that the Dogecoin Weighted Sentiment remains red, referring to data from Santiment. This metric gauges the dominant sentiment through Social Volume and Sentiment Balance. Despite Dogecoin's price rally, the prevailing negative sentiment suggests more room for growth.
Weighted Sentiment combines active social media user sentiments and the volume of posts. Historically, assets like Dogecoin often move contrary to popular sentiment, indicating potential for further price increase. In November, Dogecoin's previous peaks correlated with positive sentiment spikes, hinting at bullish prospects.
