Dogecoin Jumps 20%, But Social Media Still Bearish: Green Signal For Rally?

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Dogecoin Jumps 20%, But Social Media Still Bearish: Green Signal For Rally? - NewsBTC

Quick Summary:

Now, here is the chart for the Weighted Sentiment for Dogecoin shared by the analyst that shows the trend in its value over the past few months: As displayed in the above graph, the Dogecoin Weighted Sentiment turned negative in December as the meme coin’s bull rally hit an obstacle, and its price reversed to the downside.

The “Weighted Sentiment” here refers to an indicator from the analytics firm Santiment that tells us about the dominant sentiment related to a given asset that’s present on the major social media platforms.

While the Sentiment Balance does provide a rough overview of social media, it may not always be the best representation of the majority of the users, as all it can do is take into account the data of the posts currently present.