Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.
This week, we posed the following question to Benzinga visitors: Will you sell your Dogecoin (CRYPTO: DOGE) if it reaches $0.50 in 2022?
Since early 2021, it’s no secret Dogecoin’s price has risen or fallen in sympathy with both the price of Bitcoin (CRYPTO: BTC) and tweets by Tesla Inc (NASDAQ:TSLA) CEO Elon Musk. Heavy support for Dogecoin, by Musk, might give the meme crypto a shot at reaching $0.50 in 2022.
Back on May 8, 2021, Dogecoin reached an all-time high of $0.7376 in anticipation of Musk’s appearance on Saturday Night Live. The meme crypto is since trading lower by 81.7%.
Here are the full results from this week’s survey:
Yes, I will sell my Dogecoin if it reaches $0.50: 75.3%
No, I will not sell my Dogecoin if it reaches $0.50: 24.7%
This sentiment study was conducted amid another active week of trading, which saw the meme cryptocurrency fall by over 28%.
At the time of publication, Dogecoin was trading around $0.1338, down 11.2% in the past 24 hours.
See Also: Dogecoin Vs. Shiba Inu
This survey was conducted by Benzinga in January 2022 and included the responses of a diverse population of adults 18 or older.
Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 1,000 adults.