Prediction of dogecoin price using deep learning and social media trends
INTRODUCTION: Cryptocurrency is a digital, decentralized form of money based on blockchain technology, which makes it the most secure method of making a transaction. There has been a huge increase in the number of cryptocurrencies in the past few years. Cryptocurrencies such as Bitco...
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| Format: | Article |
| Language: | English |
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European Alliance for Innovation (EAI)
2021-11-01
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| Series: | EAI Endorsed Transactions on Industrial Networks and Intelligent Systems |
| Subjects: | |
| Online Access: | https://eudl.eu/pdf/10.4108/eai.29-9-2021.171188 |
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| author | Basant Agarwal Priyanka Harjule Lakshit Chouhan Upkar Saraswat Himanshu Airan Parth Agarwal |
| author_facet | Basant Agarwal Priyanka Harjule Lakshit Chouhan Upkar Saraswat Himanshu Airan Parth Agarwal |
| author_sort | Basant Agarwal |
| collection | DOAJ |
| description | INTRODUCTION: Cryptocurrency is a digital, decentralized form of money based on blockchain technology, which makes it the most secure method of making a transaction. There has been a huge increase in the number of cryptocurrencies in the past few years. Cryptocurrencies such as Bitcoin and Ethereum have become an interesting subject of study in fields such as finance. In 2021, over 4,000 cryptocurrencies are already listed. There are many past studies that focus on predicting the price of cryptocurrencies using machine learning, but the majority of them only focused on Bitcoin. Moreover, the majority of the models implemented for price prediction only used the historical market prices, and do not utilize social signals related to the cryptocurrency. OBJECTIVES: In this paper, we propose a deep learning model for predicting the prices of dogecoin cryptocurrency. The proposed model is based on historical market price data as well as social trends of Dogecoin cryptocurrency. METHODS: The market data of Dogecoin is collected from Kaggle on the granularity of a day and for the same duration the verified tweets have also been collected with hashtags “Dogecoin” and “Doge”. Experimental results show that the proposed model yields a promising prediction of future price of Dogecoin, a cryptocurrency that has recently become the talk of the town of the crypto market. RESULTS: Minimum achieved RMSE in predicted price of Dogecoin was 0.02 where the feature vector consisted of OCVP (Open, Close, Volume, Polarity) values from combined dataset. RESULTS: Experimental results show that the proposed approach performs efficiently. |
| first_indexed | 2024-12-18T01:51:23Z |
| format | Article |
| id | doaj.art-948458241d794dd682bc149c8be196de |
| institution | Directory Open Access Journal |
| issn | 2410-0218 |
| language | English |
| last_indexed | 2024-12-18T01:51:23Z |
| publishDate | 2021-11-01 |
| publisher | European Alliance for Innovation (EAI) |
| record_format | Article |
| series | EAI Endorsed Transactions on Industrial Networks and Intelligent Systems |
| spelling | doaj.art-948458241d794dd682bc149c8be196de2022-12-21T21:25:01ZengEuropean Alliance for Innovation (EAI)EAI Endorsed Transactions on Industrial Networks and Intelligent Systems2410-02182021-11-0182910.4108/eai.29-9-2021.171188Prediction of dogecoin price using deep learning and social media trendsBasant Agarwal0Priyanka Harjule1Lakshit Chouhan2Upkar Saraswat3Himanshu Airan4Parth Agarwal5Department of Computer Science and Engineering, Indian Institute of Information Technology Kota (IIIT Kota)Department of Mathematics, Malaviya National Institute of Technology Jaipur (MNIT Jaipur)Department of Computer Science and Engineering, Indian Institute of Information Technology Kota (IIIT Kota)Department of Computer Science and Engineering, Indian Institute of Information Technology Kota (IIIT Kota)Department of Computer Science and Engineering, Indian Institute of Information Technology Kota (IIIT Kota)Department of Computer Science and Engineering, Indian Institute of Information Technology Kota (IIIT Kota)INTRODUCTION: Cryptocurrency is a digital, decentralized form of money based on blockchain technology, which makes it the most secure method of making a transaction. There has been a huge increase in the number of cryptocurrencies in the past few years. Cryptocurrencies such as Bitcoin and Ethereum have become an interesting subject of study in fields such as finance. In 2021, over 4,000 cryptocurrencies are already listed. There are many past studies that focus on predicting the price of cryptocurrencies using machine learning, but the majority of them only focused on Bitcoin. Moreover, the majority of the models implemented for price prediction only used the historical market prices, and do not utilize social signals related to the cryptocurrency. OBJECTIVES: In this paper, we propose a deep learning model for predicting the prices of dogecoin cryptocurrency. The proposed model is based on historical market price data as well as social trends of Dogecoin cryptocurrency. METHODS: The market data of Dogecoin is collected from Kaggle on the granularity of a day and for the same duration the verified tweets have also been collected with hashtags “Dogecoin” and “Doge”. Experimental results show that the proposed model yields a promising prediction of future price of Dogecoin, a cryptocurrency that has recently become the talk of the town of the crypto market. RESULTS: Minimum achieved RMSE in predicted price of Dogecoin was 0.02 where the feature vector consisted of OCVP (Open, Close, Volume, Polarity) values from combined dataset. RESULTS: Experimental results show that the proposed approach performs efficiently.https://eudl.eu/pdf/10.4108/eai.29-9-2021.171188dogecoincryptocurrencydeep learningsentiment analysis |
| spellingShingle | Basant Agarwal Priyanka Harjule Lakshit Chouhan Upkar Saraswat Himanshu Airan Parth Agarwal Prediction of dogecoin price using deep learning and social media trends EAI Endorsed Transactions on Industrial Networks and Intelligent Systems dogecoin cryptocurrency deep learning sentiment analysis |
| title | Prediction of dogecoin price using deep learning and social media trends |
| title_full | Prediction of dogecoin price using deep learning and social media trends |
| title_fullStr | Prediction of dogecoin price using deep learning and social media trends |
| title_full_unstemmed | Prediction of dogecoin price using deep learning and social media trends |
| title_short | Prediction of dogecoin price using deep learning and social media trends |
| title_sort | prediction of dogecoin price using deep learning and social media trends |
| topic | dogecoin cryptocurrency deep learning sentiment analysis |
| url | https://eudl.eu/pdf/10.4108/eai.29-9-2021.171188 |
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