Dogecoin And Shiba Inu Fear & Greed Index Drops To Neutral, Time To Buy?

Shiba
Inu
and
Dogecoin
continue
to
remain
top
choices
for
investors
leading
into
the
bull
market.
But
the
crashes
from
recent
weeks
have
rocked
not
just
their
prices,
but
the
market
sentiment
among
them.
As
the
sentiment
for
both
of
these
meme
coins
fall,
it
could
mean
that
it
is
time
to
get
back
into
them.

Dogecoin
And
Shiba
Inu
Drop
To
Neutral

The

Fear
&
Greed
Index
is
a
scale
that
helps
to
tell
how
crypto
investors
are
looking
at
a
particular
asset
at
a
given
time.
The
higher
the
scale
is,
the
more
investors
are
willing
to
invest
in
the
assets.
While
the
reverse
is
the
case
when
the
scale
falls.

This
scale
measures
sentiment
across
five
categories,
including
Extreme
Fear,
Fear,
Neutral,
Greed,
and
Extreme
Greed,
and
these
are
represented
by
numbers.
1-25
is
Extreme
Fear,
26
to
46
is
Fear,
47
to
53
is
Neutral,
54
to
75
is
Greed,
and
76-100
is
Extreme
Greed.

Now,
since
the
crypto
market
saw
a
recovery
since
the
start
of
2024,
coins
like

Shiba
Inu
and
Dogecoin
saw
their
market
sentiment
rise
into
the
greed
territory,
even
as
high
as
Extreme
Greed.
However,
now,
as
prices
begin
to
correct
back
downward,
sentiment
has
fallen
as
well,
sending
them
toward
the
fear
territory.
Currently,
both
indexes
for

Dogecoin
and
Shiba
Inu
are
sitting
in
neutral.

Data
from
the

CFGI
website
puts
the
Shiba
Inu
sentiment
at
a
value
of
51,
which
is
neutral.
At
the
same
time,
Dogecoin
sits
at
a
score
of
52,
which
is
neutral
as
well.
At
this
time,
this
means
that
investors
are
not
making
any
moves
and
are
instead
waiting
to
see
where
the
prices
go
before
throwing
their
hats
in
the
ring.

Is
It
Time
To
Buy?

Historically,
the
best
time
to
buy
is
when
investors
are
wary
of
the
market.
This
often
means
that
prices
are
hitting
their
bottom,
making
them
the
ideal
entry
point.
However,
this
has
usually
been
in
times
of
extreme
fear
and
not
neutral
sentiment.

For
example,
both
Dogecoin
and
Shiba
Inu
are
still
seeing
some
bullish
metrics.
One
of
these
is
the
daily
trading
volume
of
these
assets.
Dogecoin’s

trading
volume
is
up
15.51%
in
the
last
day
to
$845.7
million.
While
the
Shiba
Inu

trading
volume
is
up
22.86%
in
the
same
time
period
to
reach
$389
million.

This
suggests
that
despite
sentiment
rolling
toward
neutral,
there
is
still
a
lot
of
interest
in
both
of
these

meme
coins.
Therefore,
it
is
not
the
ideal
time
to
go
all
in.
But
rather,
smaller
positions
and
dollar
cost
averaging
(DCA)
are
a
better
route.

However,
with
the
bull
market
expected
to
continue
and
outpace
the
previous
bull
markets,
it
is
expected
that
current
prices
will
seem
like
a
bargain
once
the

cryptocurrency
market
does
begin
to
move.

Featured
image
created
using
Dall.E,
chart
from
Tradingview.com