Doge gets more love on Twitter and more hate on Ethereum. data analysis

Ethereum ranked #1 on Twitter as the least hated of the five cryptocurrencies studied, followed by the meme token Dogecoin as the favorite.

In a new report from TRG Datacenters, we analyzed a year’s worth of tweets from January 2021 to January 2022 to analyze the five most popular cryptocurrencies to identify the most moving digital assets on Twitter.

An analysis looking at Bitcoin (BTC), Cardano (ADA), Dogecoin (DOGE), Ethereum (ETH) and Litecoin (LTC) found that Ethereum accounted for 29% of all tweets containing negative sentiment and the most negative was related to . (The decision not to include Ripple, who has avid fans as well as very ardent critics, will probably make the study less comprehensive than it was originally.)

Most of the criticism of Ethereum is about speed and energy cost compared to other Layer 1 alternatives. CryptoTwitter’s biggest Ethereum negativity occurred when Ethereum briefly split into two chains at the end of August 2021 due to a bug.

Bitcoin was the second most hated on Twitter, with a total fraud score of 27%. Cardano came in third with a negative association of 16%, while Litecoin came in fourth with 8% of all tweets negative.

The report collected data by analyzing negative sentiment tweets, including the following phrases and the name of each cryptocurrency. “disgust”, “scam”, “disappointed” “disappointed” at “”, “indulged in”, “bad”, “lost money”” at a loss.”

Dogecoin is a crowd favorite on social media platforms, and only 6% of all tweets about the popular memecoin contain some form of adverse sentiment. This means that 94% of all tweets about DOGE contain positive trends on Crypto Twitter, demonstrating the strength and cohesion of the token community.

Dogecoin’s popularity is closely tied to the token’s healthy relationship with the new owner of the social media platform, Elon Musk. Musk’s public decision to accept DOGE as payment for Tesla goods has spurred sentiment to an all-time high.

Chris Hinkle, CTO of TRG Datacenters, noted the different types of impact Twitter has on crypto asset prices.

“In particular, meme stocks have been seen to be driven by individual investors. For larger currencies like Bitcoin, tweets actually lag behind price movements, indicating some degree of institutional bias.”

“[This] This means that small-cap stocks and coins in general are experiencing very real price movements driven by retail investors,” added Hinkle.

Relevant: Ice Cube Supports ‘Unbelievable Historic’ Transactions with DOGE

Hinkle goes on to explain that Musk’s recent acquisition could lead to a more retail-focused crypto market, while Musk’s new influence “may pave the way for a new era of less algorithmic manipulation and retail investors.”

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