{"id":1251007,"date":"2023-07-15T12:40:06","date_gmt":"2023-07-15T11:40:06","guid":{"rendered":"https:\/\/www.businesstelegraph.co.uk\/dogecoin-engagement-fails-to-impress-raising-concerns-about-broader-interest\/"},"modified":"2023-07-15T12:40:06","modified_gmt":"2023-07-15T11:40:06","slug":"dogecoin-engagement-fails-to-impress-raising-concerns-about-broader-interest","status":"publish","type":"post","link":"https:\/\/www.businesstelegraph.co.uk\/dogecoin-engagement-fails-to-impress-raising-concerns-about-broader-interest\/","title":{"rendered":"Dogecoin Engagement Fails To Impress, Raising Concerns About Broader Interest"},"content":{"rendered":"<p> <script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- newscabal uk text -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:inline-block;width:728px;height:90px\"\r\n     data-ad-client=\"ca-pub-8162386273903324\"\r\n     data-ad-slot=\"3688094655\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p><span style=\"font-weight: 400\">Is Dogecoin (DOGE losing its charm? Despite the impressive price rally in May, recent trends suggest a decline in engagement and investor interest. As the crypto market continues to evolve, concerns are mounting about the broader implications of Dogecoin\u2019s waning appeal.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Dogecoin\u2019s engagement metrics have faltered, leaving some experts wondering if the crypto\u2019s allure is wearing off. Market indicators show a decline in trading volume, with fewer transactions taking place compared to previous months.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Will this once-beloved digital currency be able to regain its momentum, or is its star beginning to fade?<\/span><\/p>\n<h2><strong>Dogecoin New Addresses Stagnant<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">The growth of new addresses joining the Dogecoin community has hit a roadblock since May, according to a recent <\/span><a href=\"https:\/\/ambcrypto.com\/why-dogecoins-soaring-numbers-hit-a-snag\/\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400\">DOGE price report<\/span><\/a><span style=\"font-weight: 400\">. However, on-chain data analysis reveals that this stagnation in new holders has not adversely affected the weighted sentiment associated with the cryptocurrency.<\/span><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-542823 size-large\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/07\/Dogecoin-Engagement-Fails-To-Impress-Raising-Concerns-About-Broader-Interest.png\" alt=\"\" width=\"860\" height=\"292\"  \/><\/p>\n<pre style=\"text-align: center\">Source: <a href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Dogecoin-DOGE-10.43.09-14-Jul-2023.png\" target=\"_blank\" rel=\"nofollow noopener\">Santiment<\/a><\/pre>\n<p><span style=\"font-weight: 400\">As of the latest update, DOGE\u2019s weighted sentiment stands at -0.645. This metric provides insights into the average sentiment attached to a particular cryptocurrency, taking into account the unique social volume surrounding it.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Interestingly, despite the somewhat negative value, the weighted sentiment has shown improvement from its low point of -1.99 on June 9. This shift suggests that the prevailing defeatist perception during that period has gradually shifted towards a more optimistic outlook.<\/span><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/07\/Dogecoin-Engagement-Fails-To-Impress-Raising-Concerns-About-Broader-Interest\" width=\"2475\" height=\"1187\"\/><\/p>\n<pre style=\"text-align: center\">DOGE market cap slightly above the $10 billion level. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener\">TradingView.com<\/a><\/pre>\n<h2><strong>Social Volume And Holder Count: A Diverging Trend<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">However, while the weighted sentiment demonstrates a positive trajectory, the coin\u2019s social volume tells a different story. Instead of aligning with the stagnant number of holders, the social volume of Dogecoin has remained remarkably low since June 9, as per Santiment\u2019s data.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Social volume measures the number of mentions and discussions specifically related to a cryptocurrency across various platforms. In the case of Dogecoin, this metric indicates a significant decrease in overall online activity and conversations surrounding the coin.<\/span><\/p>\n<p><span style=\"font-weight: 400\">As of now, there have been no significant changes in the aforementioned trends. This suggests that the hype surrounding DOGE has diminished considerably. From a market perspective, this could potentially indicate that the coin is undervalued and has yet to reach its peak valuation.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The road ahead for Dogecoin appears challenging, as the cryptocurrency grapples with stagnant new addresses and a decline in social volume. However, it would be premature to discount the resilience of this meme-based digital asset.<\/span><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-542820\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/07\/1689437136_676_Dogecoin-Engagement-Fails-To-Impress-Raising-Concerns-About-Broader-Interest.png\" alt=\"\" width=\"945\" height=\"69\"  \/><\/p>\n<pre style=\"text-align: center\">Source: Coingecko<\/pre>\n<p><span style=\"font-weight: 400\">As of the latest data from <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/dogecoin\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400\">Coingecko<\/span><\/a><span style=\"font-weight: 400\">, the price of DOGE stands at $0.068, reflecting a decline of 4.7% over the past 24 hours. However, despite this recent dip, Dogecoin has experienced a seven-day rally of 4.6%, showing signs of resilience in the face of short-term fluctuations.<\/span><\/p>\n<p><em>(This site\u2019s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em><span style=\"font-weight: 400\">Featured image from <\/span>Terminix<\/em><\/p>\n<\/div>\n<p><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block; text-align:center;\"\r\n     data-ad-layout=\"in-article\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-client=\"ca-pub-8162386273903324\"\r\n     data-ad-slot=\"7859258044\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/news\/dogecoin-engagement-fails-to-impress\/\">READ SOURCE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Is Dogecoin (DOGE losing its charm? Despite the impressive price rally in May, recent trends suggest a decline in engagement and investor interest. As the crypto market continues to evolve, concerns are mounting about the broader implications of Dogecoin\u2019s waning appeal.\u00a0 Dogecoin\u2019s engagement metrics have faltered, leaving some experts wondering if the crypto\u2019s allure is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1251011,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_oct_exclude_from_cache":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1251007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-market"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dogecoin Engagement Fails To Impress, Raising Concerns About Broader Interest - Business Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.newsbtc.com\/news\/dogecoin-engagement-fails-to-impress\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dogecoin Engagement Fails To Impress, Raising Concerns About Broader Interest - Business Telegraph\" \/>\n<meta property=\"og:description\" content=\"Is Dogecoin (DOGE losing its charm? 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