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Dogecoin rallies due to this coincidence, but will DOGE get past the bears

According to a 26 November tweet by LunarCrush, a social analytics firm, Dogecoin [DOGE]’s AltRank scores were showing bullish signs. The AltRank level, which is based on combining factors such as social volume, social score and market volume, could play a part in giving insights about DOGE’s future.

Dogecoin $DOGE may be ready for another push higher as its AltRank™ score is at the same low (bullish) levels it was at the beginning of this week's move up.

🧐 Keep an eye on it: https://t.co/r8HPx1Aw4J pic.twitter.com/rrBzpsuX9C

— LunarCrush (@LunarCrush) November 25, 2022

Read Dogecoin’s [DOGE] Price Prediction 2023-2024

At press time, the total number of social mentions for Dogecoin stood at 396,000, and the number of social engagements was 746 million. Despite the large number of mentions and engagements, the weighted sentiment for DOGE continued to decline. As can be seen from the image below, the weighted sentiment for Dogecoin had been negative throughout the last week.

This implied that the crypto community had more negative than positive things to say about DOGE.

Source: Santiment

Dogecoin’s development activity, however, witnessed a massive spike over the last few days. This spike would suggest that the development team at Dogecoin made a lot of contributions to its GitHub repository. High development activity could suggest the possibility of new upgrades on Dogecoin’s ecosystem in the future.

The memecoin‘s network also witnessed a growth in terms of activity over the last week. As can be seen from the image below, the number of active addresses spiked multiple times over the last seven days.

However, its velocity declined during the same period, implying that the number of times DOGE was transferred amongst addresses had decreased.

Source: Santiment

With multiple factors both for and against Dogecoin, it would be difficult for traders to gauge in which direction DOGE will go. One thing to keep in mind would be DOGE’s high correlation with events on social media pertaining to the memecoin.

On the 25 November, Twitter user David Gokhshtein tweeted out a speculative statement related to Dogecoin. This statement was later picked up by various news publications, which ended up increasing the hype around Dogecoin.

Imagine just giving your thoughts on a subject and seeing these article.

— David Gokhshtein (@davidgokhshtein) November 25, 2022

 

This led to a snowball effect that increased the attention on DOGE and ended up impacting its prices positively.

At the time of writing, DOGE was trading at $0.0916, and the price was on its way to test the $0.095 resistance. The Relative Strength Index (RSI) stood at 74.02, indicating that the momentum was with the buyers at press time. The Chaikin Money Flow (CMF) was at 0.10, implying that the money flow was on DOGE’s side as well.

Source: Trading View

Source

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    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

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