With every flip of the market, there are at all times cryptocurrencies that make it to the highest because the most-liked cash amongst traders. This time round, a survey that was carried out between January 2021 and January 2022 has proven the favourite cryptocurrencies amongst traders. Surprisingly, the highest cash appear to be probably the most hated on the social media platform, Twitter, whereas meme cash emerge as probably the most beloved cryptocurrencies.
Investors Don’t Like Bitcoin, Ethereum
In the study that was carried out by TRG Datacenters on the favored social media platform Twitter, they discovered that traders weren’t talking positively in regards to the prime two cash. By analyzing the tweets mentioning these standard cryptocurrencies and the sentiment with which the customers talked about them, they have been capable of extrapolate which have been probably the most hated cash on the web site.
The second-largest cryptocurrency by market cap, Ethereum, had emerged on the prime of the record of probably the most hated cryptocurrencies. According to the examine, the digital asset had probably the most tweets with adverse sentiments with 29% of all posts about Ethereum on Twitter being adverse.
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Next up was bitcoin which carefully adopted behind Ethereum. The coin which is arguably single-handedly liable for the recognition of the crypto market seems to not be successful the congeniality contest both. It is proven that bitcoin posts have been adverse 27% of the time.
Cardano made third place on the record with 16% of all posts being adverse. While Litecoin got here out 4th place as probably the most hated cryptocurrency on Twitter with a complete of 8% of all tweets being adverse. Last on this 5-number record was Dogecoin with solely 6% of all tweets being adverse. However, the record for the most-loved cryptocurrency would see the meme coin emerge victoriously.
Investors Love Dogecoin
Even although Dogecoin had positioned among the many most hated cryptocurrencies, it didn’t take away the truth that traders love the meme coin. This is obvious within the record of most-loved cryptocurrencies that was additionally printed by TRG Datacenters.
Also holding 5 cash, it’s mainly the reverse of the most-hated record. Here, Dogecoin appeared on the prime of the record with 94% of all posts on Twitter being optimistic. It is the best of all of the cash surveyed indicating that traders nonetheless imagine within the digital asset regardless of the downtrend.
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Litecoin positioned second on the record with 91% of all posts being optimistic. Cardano, Bitcoin, and Ethereum positioned third, 4th, and fifth, with 84%, 73%, and 71% of all tweets being optimistic respectively.
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Commenting on Dogecoin showing because the most-loved cryptocurrency, Chris Hinkle, CTO at TRG Datacenters, stated that “Meme stocks, in particular, appeared to be driven by retail investors. In the case of larger currencies such as Bitcoin, tweets have actually lagged price movements, implying some degree of institutional lean.”
Support from notable figures similar to Elon Musk and most not too long ago, rapper Ice Cube has pushed Dogecoin to change into a favourite of many. Thus, it’s no shock to see the meme coin being billed because the most-loved crypto.
Featured picture from Finbold, chart from TradingView.com
