The recent surge in optimism for Dogecoin (DOGE) and XRP-based exchange-traded funds (ETFs) is noteworthy, as crowd sentiment is increasingly shifting in favor of both tokens. Social data from Santiment in a Thursday update indicates a significant positive shift in discussions surrounding these cryptocurrencies.
Monitoring social commentary has become an integral part of trading strategies, particularly when combined with technical analysis. Positive chatter can often precede price rises, while negative discussions may lead to bearish trends.
Focusing on XRP, it’s clear that online discussions are predominantly bullish. Despite a dip in overall social discussions for XRP when compared to other major cryptocurrencies, the likelihood of approval for a spot XRP ETF by the end of 2025 has escalated from 65% to 85% over the past two months, according to Polymarket’s data.
This enhanced confidence comes despite the SEC’s recent decision to delay any ruling on spot DOGE and XRP ETF proposals until June 17. Nevertheless, technical analysis indicates a bullish outlook, reflecting strong accumulation patterns in the wake of the current market lull.
Similarly, the tone surrounding Dogecoin has shifted dramatically following the April ETF filings by 21Shares and Bitwise for DOGE. Prior to late April, DOGE was experiencing a prolonged period of waning social attention, but its dominance in social discussions has now surged to a three-month high, as noted by Santiment.
The backing of the House of Doge and the Dogecoin Foundation for 21Shares’ application has further bolstered the credibility of this initiative, contributing to DOGE’s evolution from a “memecoin” to a more serious investment option with potential for wider adoption.
As Santiment pointed out, “After being seen mainly as a meme or joke coin, DOGE is now viewed as a more serious investment option with potential for wider adoption.” Analysts have also observed substantial accumulation by whales, with bullish patterns emerging in the charts—suggesting that Dogecoin may be on the brink of a new growth phase.
In contrast, other tokens such as Ether (ETH), Solana’s SOL, and BNB are showing mixed social signals, even while Bitcoin staged a recovery above $97,000 early Friday.
