• Dogecoin’s price stabilizes between $0.380 and $0.430, frustrating traders looking for upward movement.  
  • Market sentiment has fallen to -0.597 as community discussions decline during Dogecoin’s quiet phase.  
  • The price peaked at $0.498 after surging 700%, but consolidation has cooled excitement among investors.  

Dogecoin’s ($DOGE) market sentiment has turned negative while the price remains stuck in a consolidation phase. Analyst Ali (@ali_charts) shared data showing that weighted sentiment has dropped to -0.597, signaling frustration among traders. At the same time, Dogcoin’s price has stabilized near $0.404 without much upward movement since November.   

Dogecoin Sentiment Falls as Price Stalls Near $0.404, Traders Grow Restless image 0

Source: Ali Charts

Decline in Social Discussions and Sentiment  

Dogecoin experienced a surge in social volume during its sharp price rally earlier in the year. The price jumped from $0.060 in mid-October to a peak of $0.498 by early November, delivering gains of over 700%. Social discussions about DOGE increased dramatically during this period as investors celebrated the rally.  

However, after the price hit its peak, enthusiasm began to slow, and social volume started to decline. The chart data shows community interest remained steady through mid-November but began dropping further into December. This decline matched a clear shift in sentiment, which turned negative when DOGE failed to push higher.  

The latest sentiment score of -0.597 reflects rising impatience among traders. Ali noted, It seems as if traders are getting impatient during the ongoing price consolidation!  

Price Consolidation Causes Growing Frustration  

After reaching its high of $0.498, Dogecoin’s price entered a period of consolidation. It has remained between $0.380 and $0.430 for several weeks without showing strong momentum. The lack of price movement has frustrated traders who expected DOGE to sustain its earlier gains or break higher.  

In the past, DOGE’s social volume and sentiment typically surged during significant price movements. Now, community excitement has weakened , and trading activity has slowed. Ali’s analysis highlights this pattern, showing how market sentiment reflects trader behavior during this phase.  

Market Reaction and Analyst Insights  

Ali’s update has drawn attention online, with the post receiving over 64.8K views alongside 70 comments, 53 retweets, and 594 likes. One follower, Muhammad Jafri (@jafri_pk), asked if Dogecoin should be sold. Ali responded directly with, No. This suggests the analyst sees no reason to panic despite current market challenges.

Should we sell Doge ??

— Muhammad Jafri (@jafri_pk) December 17, 2024

Community discussions remain active as traders seek answers on future price targets. DOGE’s price stability continues to test patience while traders watch for signs of the next big move.  

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