- Santiment’s data revealed that Dogecoin dominated the top trending topics in crypto in the past week, heading into Monday.
- Santiment and Bitget raised mixed sentiment about DOGE’s incoming price trajectory.
Santiment revisited the top trending topics in the cryptocurrency space as traditional markets open this Monday. According to the crypto research and intelligence platform, Dogecoin (DOGE) has joined the top market cap digital assets, Bitcoin (BTC) and Ethereum (ETH), as the central focus of discussions.
Why Dogecoin Trends in Discussions
Analysts explained that Dogecoin is trending due to multiple significant developments in its ecosystem. Rex-Osprey’s expected launch of the first-ever Dogecoin exchange-traded fund (ETF) in the US as early as this week dominated the talks.
In addition, the OG memecoin has gained traction in public interest due to Thumzup Media Corporation’s expansion of its Dogecoin mining rigs. The company is reportedly acquiring 3,500 rigs to boost its DOGE mining operations and generate more revenue.
What’s generating a lot of noise regarding Thumzup’s involvement is the fact that Donald Trump Jr., also known as “Don Jr.” and the eldest child of US President Donald Trump, has made a considerable investment in the organization. The publicly traded firm with the ticker TZUP on Nasdaq is a social media marketing company. Its initial foray into crypto started with the diversification of its treasury with Bitcoin.
In July, Thumzup’s board approved further expansion of its corporate treasury portfolio to include Dogecoin, Solana (SOL), XRP, and Ethereum.
Dogecoin Market Performance
Dogecoin has been moving indecisively between $0.20 and $0.22 in the last seven days, heading into Monday. However, Santiment sees a potential moderate growth in the crypto asset because of its strong community backing, institutional interest, and social media buzz.
On the other hand, Bitget is keeping a close watch on DOGE as its “future direction remains unclear.” The crypto exchange noted that the token has been struggling to break the resistance around $0.24 to $0.25 on several occasions. Nevertheless, it considers the consistent whale buying pressure a positive sign.
Furthermore, Bitget predicts Dogecoin’s likely short-term rise to $0.242 if demand sustains, and a possible bump to $0.32. But then again, it warned traders and investors about the ongoing on-chain drop in crypto activity related to the token. The continuation of such an unfavorable trend could weaken the memecoin’s momentum. From there, any break in its key support at $0.215 could trigger fresh selling and drag prices lower.
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