Whenever the market changes, there is always a cryptocurrency that ranks first as a favorite coin among investors. This time, a survey conducted between January 2021 and January 2022 showed investors preferred cryptocurrencies. Surprisingly, on the social media platform Twitter, Topcoin is the most hated while Memecoin emerges as the most loved cryptocurrency.
Investors Don’t Like Bitcoin, Ethereum
at Research conducted by TRG Datacenters On Twitter, a popular social media platform, they found that investors did not speak positively about the top two coins. By analyzing tweets referring to these popular cryptocurrencies and the sentiments users shared about them, we were able to deduce which coins the website disliked the most.
Ethereum, the second-largest cryptocurrency by market cap, topped the list of most hated cryptocurrencies. According to the study, digital assets had the most tweets with negative sentiment, 29% of all posts about Ethereum on Twitter.
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Next was Bitcoin, closely following Ethereum. Coin, which is arbitrarily responsible for the popularity of crypto markets, does not appear to have won the friendly contest. Bitcoin posts were negative 27% of the time.
Cardano took third place on the list with 16% of all posts being negative. Litecoin ranks 4th as the most hated cryptocurrency on Twitter, with a total of 8% of all tweets negative. Last on this list of five numbers is Dogecoin, with only 6% of all tweets negative. However, the list of most loved cryptocurrencies will see meme coins win.
Investors Love Dogecoin
While Dogecoin was one of the most hated cryptocurrencies, it didn’t remove the fact that investors liked meme coins. This is evident in the list of most loved cryptocurrencies also published by TRG Datacenters.
Also holding 5 coins is basically the opposite of the most hated list. Here, Dogecoin made it to the top of the list where 94% of all posts on Twitter were positive. This is the highest of all coins surveyed, indicating that investors still believe in digital assets despite the downtrend.
DOGE falls to $0.07 | Source: DOGEUSD on TradingView.com
Litecoin took second place with 91% of all posts being positive. Cardano, Bitcoin and Ethereum took third, fourth and fifth places with positive tweets of 84%, 73% and 71% respectively.
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Chris Hinkle, CTO of TRG Datacenters, commented on Dogecoin’s emergence as the most-loved cryptocurrency: “Meme stocks in particular appear to be driven by individual investors. For larger currencies like Bitcoin, tweets actually lag behind price movements, indicating some degree of institutional bias.”
Support from prominent figures like Elon Musk and most recently rapper Ice Cube has pushed Dogecoin to become popular with many. So it’s no surprise that Meme Coins are billed as the most loved cryptocurrency.
Featured image from Finbold, chart from TradingView.com