This weekend, 5 Altcoins with high social dominance appear as SHIB, ETH, CAKE, DOGE and SAFEMOON. Social activity surrounding cryptocurrencies can often change their market prices. While Bitcoin remains the dominant topic of conversation, some other cryptocurrencies can also be the subject of strong social interactions. Interestingly, Ethereum is not in second place and Binance Coin does not even make it to the top 20. Detail cryptocoin.com‘in.
Shiba Inu (SHIB) second in social dominance
SHIB: After reaching an all-time high and a brief rest phase, the Shiba Inu is once again on the path to recovery. A price increase of about 14% in the last 24 hours is causing a lot of people to talk through social media platforms. Additionally, the project ranks second only to Bitcoin on the social dominance front. About 12% of all crypto discussions watched by LunarCRUSH are about SHIB and Shiba Inu, which is pretty impressive.
ETH: Ethereum is expected to be much closer to Bitcoin in social dominance, but the opposite has happened. Ethereum has lost ground to the Shiba Inu and only accounts for 5.6% of all social discussions. It’s somewhat surprising for a currency that seems poised to hit $5,000 fairly soon. Ethereum outperforms SHIB for social engagement but falls short on the social volume front.
PancakeSwap (CAKE): Instead of seeing Binance Coin in fourth place, we see PancakeSwap. The largest trading platform on the Binance Smart Chain will always be of interest to traders and speculators. Also, PancakeSwap’s social dominance (3.466%) is impressive, as it keeps the project ahead of Dogecoin and SafeMoon.
DOGE is on the list
Dogecoin (DOGE): Waiting for the all-time high Dogecoin price is still not over. DOGE hasn’t been able to repeat that number since it rallied sharply earlier this year. The current sentiment suggests that a new bull run will not happen overnight either. Despite this, Dogecoin maintains a social dominance of 3.16%, mainly thanks to over 200 million social engagements.
SAFEMOON: Although there are differences of opinion about SafeMoon, the currency continues to attract attention. Also, it is still in the green while most of the markets are suffering from minor bearish pressure. Of course, this last situation may change at any moment, but for now, social dominance of 2,657% looks like it will help SAFEMOON maintain its price level.
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