• Dogecoin’s social sentiment has seen a surge in recent months, which could lead to further price gains.
• The last time this trend was seen was in October 2022 when billionaire Elon Musk took over Twitter.
• If the trend follows what was seen back in October 2022, then Dogecoin could clear the $0.1 level soon.
Dogecoin Social Sentiment Surges
Dogecoin (DOGE) like the rest of the crypto market has slowed down in the past day. However, for Dogecoin, it looks like its social sentiment has been on an uneven path and recently surged to levels that were last seen in October 2022 when billionaire Elon Musk completed his takeover of Twitter.
Positive Social Sentiment
The surge in positive sentiment towards Dogecoin means that investors are looking positively toward the cryptocurrency and its eventual rise in price could follow these surges. This is also evident by a similar rise in the digital asset’s social volume which indicates more investors talking about it.
Price Could Clear $0.1 Level
If this trend follows what was seen back in October 2022 when DOGE’s price rose above $0.14, then there is potential for the meme coin to clear the $0.1 level soon as well as see further upward movement beyond this point if hype surrounding it stays strong enough.
Hype Driven Price Gains
As most people know, Dogecoin’s price largely depends on hype and positive sentiment surrounding it so if these conditions remain then there is potential for further gains moving forward.
Conclusion
Overall, Dogecoin’s recent surge in social sentiment paints a bullish picture for its future performance and more investor interest may lead to additional upswings moving forward so long as hype remains strong enough around the digital asset itself.